Refinishers Inc

Multiple Choice

Refinishers Inc.receives cash of $2,000 from services performed during its first week of business.How would Refinishers record this transaction?

A) Cash increases by $2,000 and Refinishing Revenue increases by $2,000.
B) Cash decreases by $2,000 and Refinishing Revenue decreases by $2,000.
C) Cash increases by $2,000 and Common Stock increases by $2,000.
D) Cash decreases by $2,000 and Accounts Receivable decreases by $2,000.
E) Cash increases by $2,000 and Accounts Receivable decreases by $2,000.