When cash is received from customers in the form of a refundable deposit, the cash account is

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When cash is received from customers in the form of a refundable deposit, the cash account is increased with a corresponding increase in:

A) A current liability.

B) Revenue.

C) Shareholders' equity.

D) Paid-in capital.

Related Book For answer-question

College Physics

ISBN: 978-0321601834

7th edition

Authors: Jerry D. Wilson, Anthony J. Buffa, Bo Lou

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Posted Date: Dec 30, 2020 01:37 AM

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When cash is received from customers in the form of a refundable deposit, the cash account is

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Expert Answer:

A A current liability Current liabilities are a companys shortterm financial obli... View the full answer

College Physics

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