A Company Collects a Customer's Account Within the Discount Period

question 156

Multiple Choice

A company collects a customer's account within the discount period.Indicate how this transaction would affect (1) assets, (2) stockholders' equity,and (3) revenues.

• A)(1)Decrease, (2)Decrease, (3)Decrease
• B)(1)Increase, (2)Increase, (3)Increase
• C)(1)Increase, (2)Increase, (3)No effect

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