The journal entry to record a shift of assets would include:
A) a debit to Cash and a credit to Fees Earned.
B) a debit to Supplies and a credit to Accounts Payable.
C) a debit to Cash and a credit to Accounts Receivable.
D) a debit to Fees Earned and a credit to Accounts Receivable.

Question

Quizplus · Accepted Answer

Shifting assets from Accounts Receivable to Cash involves debiting Cash and crediting Accounts Receivable.

The Journal Entry to Record a Shift of Assets Would