How would the accounting equation of Lenore Turner's consulting business be affected by the billing...

50.1K

Verified Solution

Question

Accounting

How would the accounting equation of Lenore Turner's consulting business be affected by the billing of a client for $2,000 for consulting work completed?

Select one:

A. Accounts receivable, $2,000 increase, equity, $2,000 increase.

B. Accounts receivable, $2,000 increase, liabilities, $2,000 decrease.

C. Accounts receivable, $2,000 increase, cash, $2,000 increase.

D. Accounts receivable, $2,000 increase, liabilities, $2,000 increase.

E. Accounts receivable, $2,000 increase, cash, $2,000 decrease.

Answer & Explanation Solved by verified expert
Get Answers to Unlimited Questions

Join us to gain access to millions of questions and expert answers. Enjoy exclusive benefits tailored just for you!

Membership Benefits:
  • Unlimited Question Access with detailed Answers
  • Zin AI - 3 Million Words
  • 10 Dall-E 3 Images
  • 20 Plot Generations
  • Conversation with Dialogue Memory
  • No Ads, Ever!
  • Access to Our Best AI Platform: Flex AI - Your personal assistant for all your inquiries!
Become a Member

Other questions asked by students