When cash is received from customers in the form of a refundable deposit, the cash account is increased with a corresponding increase in:
A. A current liability.
B. Revenue.
C. Shareholders' equity.
D. Paid-in capital.
Answer: A
When cash is received from customers in the form of a refundable deposit, the cash account is increased with a corresponding increase in:
A. A current liability.
B. Revenue.
C. Shareholders' equity.
D. Paid-in capital.
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