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Blue Company factored half of their accounts receivables with Factor Bank in June 2021. Assuming Blue correctly recorded this transaction, which of the following statements

Blue Company factored half of their accounts receivables with Factor Bank in June 2021. Assuming Blue correctly recorded this transaction, which of the following statements is true regarding the effect of this transaction on Blues financial statements?

a.

Net liabilities increases
b.

None of the options
c.

Net income increases
d.

Net assets increases
e.

Net income decreases

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