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Mulberry Corporation collected $16,000 from one of its customers, the amount owed from the previous month. How does this affect the accounting equation for Mulberry
Mulberry Corporation collected $16,000 from one of its customers, the amount owed from the previous month. How does this affect the accounting equation for Mulberry Corporation?
A. Assets increase by $16,000, assets decrease by $16,000
B. Assets increase by $16,000, liabilities increase by $16,000
C. Assets increase by $16,000, equity increases by $16,000
D. Assets increase by $16,000, liabilities decrease by $16,000
A. Assets increase by $16,000, assets decrease by $16,000
B. Assets increase by $16,000, liabilities increase by $16,000
C. Assets increase by $16,000, equity increases by $16,000
D. Assets increase by $16,000, liabilities decrease by $16,000
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Conceptual Physical Science
Authors: Paul G. Hewitt, John A. Suchocki, Leslie A. Hewitt
6th edition
013408229X, 978-0134082295, 9780134080512 , 978-0134060491
