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How Would the Accounting Equation of Lenore Turner's Consulting Business

Question 207

Multiple Choice

How would the accounting equation of Lenore Turner's consulting business be affectedby the billing of a client for $2,000 for consulting work completed?


A) Accounts receivable, $2,000 increase, liabilities, $2,000 decrease.
B) Accounts receivable, $2,000 increase, cash, $2,000 decrease.
C) Accounts receivable, $2,000 increase, cash, $2,000 increase.
D) Accounts receivable, $2,000 increase, equity, $2,000 increase.
E) Accounts receivable, $2,000 increase, liabilities, $2,000 increase.

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