When accounts receivable are collected:
A)Stockholders' equity increases.
B)Total assets increase.
C)Total assets decrease.
D)The amount of total assets is unchanged.

Name: When accounts receivable are collected: A)Stockholders' equity increases. B)Total assets increase. C)Total assets decrease. D)The amount of total assets is unchanged.
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Question

Quizplus · Accepted Answer

When accounts receivable are collected, cash increases while accounts receivable decrease by the same amount, leaving total assets unchanged.

When Accounts Receivable Are Collected