Touch Tronix, Inc $€ 880,000$ Terms of the Sale Were 2/10, Net 30

Touch Tronix, Inc. Sells component parts to Advanced Communications, Inc. a cell phone manufacturer. On December 10, 2011, Touch Tronix, Inc. sold €680,000 of goods to Advanced Communications, Inc. on account for $€ 880,000$ . Terms of the sale were 2/10, net 30. On December 18, 2011, Advanced Communications, Inc. paid the account in full. Advanced Communications, Inc. uses a perpetual inventory System. Which of the following is true regarding the impact on the statement of financial position for Advanced Communications, Inc. When the payment is made on December 18,2011 ?

A) Assets decreased by $€ 880,000$ .
B) Assets increased by $€ 17,600$ .
C) Liabilities decreased by $€ 862,400$ .
D) Liabilities decreased by $€ 680,000$ .