Answer:
The required adjusting entry would be to debit the accounts receivable by $200.
Step-by-step explanation:
The question says that the business has earned $200 but have not received it yet.
The business has to 'receive' the payment in the future.
The party who needs to send this payment is liable to pay them $200 in the future.
Businesses record this as 'accounts receivable' to keep a record of who owes them money and 'account payable' is recorded when the business owes someone money.
Therefore, the required adjusting entry would be to debit the accounts receivable by $200.
