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On 1st January, Sabrina Inc. sold $30,000 in products to a customer on account. Then, on 10th January, Sabrina Inc collected the cash on that
On 1st January, Sabrina Inc. sold $30,000 in products to a customer on account. Then, on 10th January, Sabrina Inc collected the cash on that account. What is the impact on Sabrina's accounting equation from the collection of cash on 10th January? O A. Assets increase and stockholders' equity increases. O B. Assets decrease and liabilities decrease. O C. Assets increase and liabilities decrease. OD. No net effect to the accounting equation
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