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Jim Tree sells 3 items for which he receives $35 in cash. Where would Jim list the amount received?


Cash Assets

Equipment Assets

Other Assets (includes receivables)

Liabilities - Accounts Payable

Owner's Equity

Verified Answer :

metchelle

Based on the given information above, I believe that the answer would be CASH ASSETS. Jim earned an income from something and he receives this in a form of cash, which makes it a cash asset. Assets that are easily convertible to cash belong to cash assets. Hope this answer helps.

alanizyc

the answer is cash assets

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