Question: Microsoft Word - ACCOUNTING COMPETENCY SAMPLE EXAM Providing services on account for $40,000 would: increase cash $40,000, decrease accounts receivable $40,000 decrease accounts receivable $40,000,

Microsoft Word - ACCOUNTING COMPETENCY SAMPLE EXAM

Providing services on account for $40,000 would:

  1. increase cash $40,000, decrease accounts receivable $40,000
  2. decrease accounts receivable $40,000, decrease owners equity $40,000
  3. increase accounts receivable $40,000, increase owners equity $40,000
  4. increase accounts receivable $40,000, decrease owners equity $40,000
  5. none of the above

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