Brown & Co. sells to a customer for $5,000 worth of merchandise. Brown & Co. had purchased the merchandise for $3,500. Due to liquidity constraints, the customer does not pay the merchandise immediately, but agrees to pay in five installments beginning 30 days after the sale. Due to this transaction: A temporary account will be debited for $3,500 and another temporary account will be credited for $5,000. An asset will be debited for $5,000. The net effect on total assets will be an increase by $1,500 All the above are correct