If Accounts Receivable has been credited, it is most likely that:
A) the company collected a payment from a customer.
B) the company made a payment on account.
C) the company made a purchase on account.
D) None of these is possible.

Question

Quizplus · Accepted Answer

When Accounts Receivable is credited, it typically means a reduction in the amount owed to the company, which usually occurs when a payment is collected from a customer.

If Accounts Receivable Has Been Credited, It Is Most Likely