During fiscal 2016, Plastics and Synthetic Resins Company recorded cash of $87,800 from customers for accounts receivable collections. Which of the following financial statement effects template entries captures this transaction?
Balance Sheet Income Statement Cash Assets + Noncash Assets=Liabilities +Contributed +Earned Revenues-Expenses=Net IncomeCapital Capital a. Balance Sheet Income StatementCash Assets + Noncash Assets = Liabilities + Contributed + Earned Revenues - Expenses =Net IncomeCapital Capital +87,800 +87,800 +87,800 - = +87,800b. Balance Sheet Income StatementCash Assets + Noncash Assets = Liabilities + Contributed + Earned Revenues - Expenses =Net IncomeCapital Capital +87,800 -87,800 (AR)c. Balance Sheet Income StatementCash Assets + Noncash Assets = Liabilities + Contributed + Earned Revenues - Expenses =Net IncomeCapital Capital +87,800 (AR) +87,800 +87,800 - = +87,800d. Balance Sheet Income StatementCash Assets + Noncash Assets = Liabilities + Contributed + Earned Revenues - Expenses =Net IncomeCapital Capital -87,800 +87,800 (AR)
