On January 1,Brad Inc.sold $30,000 in products to a customer on account.Then,on January 10,Brad collected the cash on that account.What is the impact on Brad's accounting equation from the collection of cash on January 10?
A) No net effect to the accounting equation.
B) Assets increase and liabilities decrease.
C) Assets decrease and liabilities decrease.
D) Assets increase and stockholders' equity increases.
Correct Answer:
Verified
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