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X Company prepares monthly financial statements. On September 6, its accountant made an entry that resulted in a $51,000 increase in Cash and a $51,000
X Company prepares monthly financial statements. On September 6, its accountant made an entry that resulted in a $51,000 increase in Cash and a $51,000 decrease in Accounts Receivable. Which of the following transactions is consistent with this entry? X Company O received $51,000 from a customer who bought merchandise with cash. O sold merchandise to customers on account for $51,000. Oborrowed $51,000 from a bank and signed a note. O paid $51,000 to a supplier from whom the firm had previously bought merchandise on account. O received $51,000 from a new investor. O received $51,000 from a customer who had previously bought merchandise on account. Submit Answer Incorrect. Tries 1/2 Previous Tries
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