Concept: Types of Receivables8m
Which of the following does not correctly describe the following adjusting journal entry?
a. Net assets increase.
b. The transaction is an example of an accrual.
c. Stockholders' equity is not affected.
d. Net income increases.
For Build-A-Bear Workshop, Inc., cash sales and sales on account were $200,000 and $680,000, respectively. During the year, Accounts Receivable increased by $20,000. Cash received from customers was: