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For all the questions in this quiz, you will apply what you have learned this week to a real world scenario involving Calla & Ivy.
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This month, a company receives $10,000 from a regular customer, of which $6,000 is for products delivered last month and $4,000 is for products that will be delivered next month. What is the net change in Accounts Receivable this month (assuming no other transactions that affect Accounts Receivable)?
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An owner has deposited several payments they’ve received from customers into the business’s bank account. The owner would then enter this transaction in their accounting software as:
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15. Question 15 An owner has deposited several payments they’ve received from customers into the business’s bank account. The owner would then enter this transaction in their accounting software as: …
