Receiving payment of a portion of an accounts receivable will
A)not affect total assets.
B)increase liabilities.
C)increase stockholders' equity.
D)decrease net income.

Name: Receiving payment of a portion of an accounts receivable will A)not affect total assets. B)increase liabilities. C)increase stockholders' equity. D)decrease net income.
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Question

Quizplus · Accepted Answer

Receiving payment of accounts receivable converts one asset (accounts receivable) into another asset (cash), thus total assets remain unchanged.

Receiving Payment of a Portion of an Accounts Receivable Will