Contessa company collected $42,000 cash on its accounts receivable. the effects of this transaction as reflected in the accounti

Question

tresset_1 [31]

3 years ago

6

Contessa company collected $42,000 cash on its accounts receivable. the effects of this transaction as reflected in the accounti

ng equation are:

Business

1 answer:

sashaice [31] · Answer 1 · 2021-11-06T20:00:55+03:00

sashaice [31]3 years ago

6 0

Having the Contessa company have collected $42,000 in cash on its account receivable, the assets, liabilities, and equity will remain unchanged. In relation to this, unpaid invoices, and waiting for customers to pay their bills are also considered as accounts receivable.