Multiple choice: 1.Collection of an account receivable would: A.decrease liabilities B. have no effect on owner's equity C. decrease owner’s equity D. increase total assets

Principles of Accounting Volume 1
19th Edition
ISBN:9781947172685
Author:OpenStax
Publisher:OpenStax
Chapter3: Analyzing And Recording Transactions
Section: Chapter Questions
Problem 26MC: What is the impact on the accounting equation when an accounts receivable is collected? A. both...
icon
Related questions
icon
Concept explainers
Topic Video
Question
Multiple choice: 1.Collection of an account receivable would: A.decrease liabilities B. have no effect on owner's equity C. decrease owner’s equity D. increase total assets
Expert Solution
trending now

Trending now

This is a popular solution!

steps

Step by step

Solved in 3 steps with 1 images

Blurred answer
Knowledge Booster
Financial Statements
Learn more about
Need a deep-dive on the concept behind this application? Look no further. Learn more about this topic, accounting and related others by exploring similar questions and additional content below.
Similar questions
  • SEE MORE QUESTIONS
Recommended textbooks for you
Principles of Accounting Volume 1
Principles of Accounting Volume 1
Accounting
ISBN:
9781947172685
Author:
OpenStax
Publisher:
OpenStax College
Intermediate Financial Management (MindTap Course…
Intermediate Financial Management (MindTap Course…
Finance
ISBN:
9781337395083
Author:
Eugene F. Brigham, Phillip R. Daves
Publisher:
Cengage Learning