During March,the Long Life Consulting Company Provides $23,000 in Consulting

Multiple Choice

During March,the Long Life Consulting Company provides $23,000 in consulting services for a customer.The customer paid $12,000; the other $11,000 was on account.Which of the following statements about these transactions is correct?

A) Cash increases by $12,000, Consulting Revenue increases by $11,000, and Accounts Receivable increases by $23,000.
B) Cash increases by $12,000, Accounts Receivable increases by $11,000, and Consulting Revenue increase by $23,000.
C) Accounts Receivable increases by $11,000, Liabilities decrease by $12,000, and Stockholders' Equity increases by $1,000.
D) Revenues increase by $12,000, liabilities decrease by $12,000, and stockholders' equity is unchanged.