Multiple Choice
On May 10,a business collected $4,200 on account.What journal entry is needed on that date?
A) Debit Cash for $4,200 and credit Revenue for $4,200.
B) Debit Accounts Receivable for $4,200 and credit Revenue for $4,200.
C) Debit Cash for $4,200 and credit Accounts Receivable for $4,200.
D) Debit Accounts Payable for $4,200 and credit Revenue for $4,200.
Correct Answer:
Verified
Correct Answer:
Verified
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