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In: Accounting

X Company prepares monthly financial statements. On September 6, its accountant made an entry that resulted...

X Company prepares monthly financial statements. On September 6, its accountant made an entry that resulted in a $54,000 increase in Cash and a $54,000 decrease in Accounts Receivable. Which of the following transactions is consistent with this entry? X Company did which of the following?

borrowed $54,000 from a bank and signed a note.
received $54,000 from a customer who bought merchandise with cash.
received $54,000 from a customer who had previously bought merchandise on account.
paid $54,000 to a supplier from whom the firm had previously bought merchandise on account.
received $54,000 from a new investor.
sold merchandise to customers on account for $54,000.

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