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Question Choose the right answer. Collection of an account receivable of $600: Question options:

decreases a liability by $600; increases shareholders' equity by $600.

has no effect on total assets.

increases an asset by $600; decreases a liability of $600.

decreases an asset by $600; decreases a liability by $600

choose right anwer only

The IKS company submits the following data from the trial balance after closing the 2021 financial year.

Insurance payable 15,000 Accumulated depreciation plant 34,200 Stock of goods 32,000 Prepaid advertising 15,000 Customers 36,000 Undistributed results? Cash 70,000 Bank loan 135,000 Share capital 145,000 Factory 250,000 Deferred revenue 3,200 All account balances are normal. The undistributed result is:

$108,200

$145,000

$105,000

$70,600