Question
Question 29 (1 point)
Customers paid $8,000 on their accounts. Which accounts are affected by this
transaction?
• Revenue and Retained Earnings decrease $8,000.
Cash and Revenue increase $8,000. Liabilities and Expense increase $8,000.
Revenue and Retained Earnings increase $8,000.
Cash increases $8,000 and Accounts Receivable decreases $8,000. Revenue and
Retained Earnings are unchanged.
Answer
Cash increases $8,000 and Accounts Receivable decreases $8,000.