Mulberry Corporation collected $13,000 from one of its​ customers, the amount owed from the previous month. How does this affect the accounting equation for​ Mulberry?     A. Assets increase by $13,000​; assets decrease by $13,000.   B. Assets increase by $13,000​; liabilities increase by $13,000.   C. Assets increase by $13,000​; equity increases by $13,000.   D. Assets increase by $13,000​; liabilities decrease by $13,000.

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A:

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A:

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Financial Transaction Analysis

The transaction analysis is done with the help of the accounting equation. The basic accounting equation is alternatively known as the balance sheet equation is based on the double-entry system which says that for each transaction happening in a business, at least two accounts should be affected I.e. both the debit side and the credit side should be equal. The Accounting Equation is