Mc Qu. 198 Atkins Company collected... Atkins Company collected $1750 as payment for the amount owed by a customer from services provided the prior month on credit. How does this transaction affect the accounting equation for Atkins? Multiple Choice Assets would decrease $1750 and liabilities would decrease $1750 One asset would increase $1750 and a different asset would decrease $1,750 causing no net change in the accounting Assets wouid increase $1750 and equity would increase $1.750