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Accounting

6) Cash is collected from a customer who was previously put on account. How does the collection of the cash affect the accounting equation?__A, B, C, or D__

A) assets increase; owner's equity increases
B) assets increase; liabilities increase
C) assets increase; assets decrease
D) assets decrease; owner's equity decreases

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6) Cash is collected from a customer who was previously put on account. How does ...

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This solution is comprised of a detailed explanation to answer how does the collection of the cash affect the accounting equation.

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