When Chris charges a gallon of chlorine for his pool at Pinch-A-Penny to his store account,he creates a/an ______________ for the retailer.
A) notes payable
B) accounts payable
C) notes receivable
D) long-term liability
E) accounts receivable

Question

Quizplus · Accepted Answer

When Chris charges a gallon of chlorine to his store account, it creates an accounts receivable for the retailer, as it represents money owed to the retailer by Chris.

When Chris Charges a Gallon of Chlorine for His Pool