Multiple Choice
Claire Spa receives a check for $250 for services previously rendered on account.How would Claire Spa record this transaction?
A) Cash increases by $250 and Spa Services Revenue increases by $250.
B) Accounts Receivable increases by $250 and Spa Services Revenue increases by $250.
C) Cash increases by $250 and Spa Services Revenue decreases by $250.
D) Cash increases by $250 and Accounts Receivable increases by $250.
E) Cash increases by $250 and Accounts Receivable decreases by $250.
Correct Answer:

Verified
Correct Answer:
Verified
Q38: On September 30,Ambiance Inc.receives its electric bill
Q39: On August 1,Marietta Appliance Repair paid $2,500
Q40: Which of the following is the primary
Q41: Net income:<br>A)Occurs when revenues exceed expenses.<br>B)Is the
Q43: Businesses can take all of the following
Q44: FastForward had cash inflows from operations of
Q45: Beginning assets were $437,600,beginning liabilities were $262,560,common
Q46: Use the following information as of December
Q81: If equity is $300,000 and liabilities are
Q240: The balance sheet is based on the