What is the effect on the accounting equation when a company collects an account receivable?
A) Total assets increase,total liabilities increase,and total shareholders' equity stays the same.
B) Total assets stay the same,total liabilities stay the same,and total shareholders' equity stays the same.
C) Total assets decrease,total liabilities stay the same,and total shareholders' equity decreases.
D) Total assets stay the same,total liabilities increases,and total shareholders' equity decreases.
Correct Answer:
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