Montgomery Equipment Rental Company received​ $1,000 cash from a​ customer; the amount was owed to the business from the previous month. What is the effect of this transaction on the accounting​ equation? A. Cash increases and Accounts Payable decreases B. Cash increases and Service Revenue increases C. Accounts Receivable increases and Service Revenue increases D. Cash increases and Accounts Receivable decreases
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Home » Business » Montgomery Equipment Rental Company received​ $1,000 cash from a​ customer; the amount was owed to the business from the previous month. What is the effect of this transaction on the accounting​ equation? A.