Jefferson Services Company records the collection of $500 cash for previously accrued revenues and then makes an accrual of $325 for another revenue. The impact of these two entries on total net income and working capital is an increase of: Select one: O a. Net Income $325, Working Capital $175 Ob. Net Income $825, Working Capital $325 Oc Net Income $325, Working Capital $500 Od. Net Income $325, Working Capital $325 O e. Net Income $500, Working Capital $175

Jefferson Services Company records the collection of $500 cash for previously accrued revenues and then makes an accrual of $325 for another revenue. The impact of these two entries on total net income and working capital is an increase of: Select one: O a. Net Income $325, Working Capital $175 Ob. Net Income $825, Working Capital $325 Oc Net Income $325, Working Capital $500 Od. Net Income $325, Working Capital $325 O e. Net Income $500, Working Capital $175

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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