The Business Collects a $5,000 Account Receivable from Its Customer

question 95

Multiple Choice

The business collects a $5,000 account receivable from its customer.How is the accounting equation affected?

• A) Assets increase $5,000; liabilities decrease $5,000.
• B) One asset increases by $5,000; another asset decreases $5,000.
• C) Assets increase $5,000; liabilities increase $5,000.
• D) Assets increase $5,000; owner's equity increases $5,000.

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