Calmar Corporation sold merchandise to a customer for $30,000 on credit on July 15. The customer paid Calmar Corporation the amount due on July 31. Under the accrual basis of accounting, how should Calmar Corporation record the transaction? Oa. The company will recognize the revenue on July 31 Ob. The July 3 transaction has no effect on total assets under the accrual basis Oc. Revenue is recognized after the cost of the merchandise sold has been paid by Calmar Corporation Od. The July 15th transaction increases revenue, but has no effect on assets because cash has not been received