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Home Q & A Board Other Fields Homework Help Business Accounting
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H3Ko H3Ko
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7 years ago
Exchange Corporation collected $8,000 from one of its customers, the amount owed from the previous month. How does this affect the accounting equation for Exchange?
A) assets increase by $8,000; liabilities decrease by $8,000
B) assets increase by $8,000; assets decrease by $8,000
C) assets increase by $8,000; equity increases by $8,000
D) assets increase by $8,000; liabilities increase by $8,000
Textbook 
Horngren's Financial & Managerial Accounting, The Financial Chapters

Horngren's Financial & Managerial Accounting, The Financial Chapters


Edition: 5th
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TanksTanks
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7 years ago
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H3Ko Author
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#2
7 years ago
I posted this question a while back then forgot to check the forum lol Thanks for answering, you were right
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