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Collection of a $710 Accounts Receivable O increases an asset $710; decreases a liability $710. O decreases a liability $710; increases stockholders' equity $710. O decreases an asset $710; decreases a liability $710. O increases an asset $710; decreases an asset $710. If services are rendered on account, then O liabilities will increase. stockholders' equity will increase. assets will decrease. O liabilities will decrease. Current Attempt in Progress The payment of a liability increases assets and decreases liabilities. decreases assets and stockholders' equity. decreases assets and increases liabilities. O decreases assets and liabilities