1. Recording the collection of accounts receivable from customers involves:
A. Debiting Accounts Receivable and crediting Cash
B. Debiting Cash and crediting Service Fees Earned
C. Debiting Cash and crediting Accounts Payable
D. Debiting Cash and crediting Accounts Receivable.
2. Which of the following financial statements is a period statement?
A. Income statement
B. Statement of retained earnings
C. Statement of cash flows
D. All of the above
E. None of the above