Question

The bank received and accepted a payment worth $7,200 from a customer on the company’s behalf. Which journal entry adjustment should the accountant make?

A.
Accounts receivable will be debited by $7,200.
B.
Accounts payable will be debited by $7,200.
C.
Accounts receivable will be credited by $7,200.
D.
Accounts payable will be credited by $7,200

Answer 1

Answer:

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