Exchange Corporation Collected $8,000 from One of Its Customers,the Amount

question 139

Multiple Choice

Exchange Corporation collected $8,000 from one of its customers,the amount owed from the previous month.How does this affect the accounting equation for Exchange?

• A)assets increase by $8,000; liabilities decrease by $8,000
• B)assets increase by $8,000; assets decrease by $8,000
• C)assets increase by $8,000; liabilities increase by $8,000
• D)assets increase by $8,000; equity increases by $8,000

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