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

Collecting from customers on account increases the asset,Cash,and decreases the asset,Accounts Receivable;as such,the transaction does not change total assets.

When Accounts Receivable Are Collected