Question

If Dallas Company billed a client for $10,000 of consulting work completed, the accounts receivable asset increases by $10,000 and: Multiple Choice Accounts payable decreases $10,000. Accounts payable increases $10,000. Cash increases $10,000. Revenue increases $10,000. Revenue decreases $10,000.

Answer 1

In the event that Dallas Company bills a client, the account that will increase along with accounts receivable is a Revenue increase of $10,000.

Accounts affected

• Accounts receivable will increase because the client will owe Dallas Company.
• Revenue will increase as well because Dallas Company is earning revenue from the consulting work.

The increase to the Revenue account will be the amount charged for consulting work which is $10,000.

In conclusion, option D is correct.

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