Clarendon Corp.sold $1,000 of merchandise to a customer on terms of 1/10,n/30.Its customer paid within the discount period.As a result of its customer making the payment within the discount period,Clarendon's total assets will:

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As a result of the customer's making payment within the discount period,Clarendon's cash will increase by $990 (or $1,000 × 0.99)and its accounts receivable will decrease by $1,000.Thus,total assets will decrease by $10 (or increase of $1,000 − decrease of $990).