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

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Business

Frauline

16 May, 10:37

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

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Jair Bond · Answer 1

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.