Please check my answer

Collection of a $600 Accounts Receivable increases an asset $600; decreases an asset $600. increases an asset $600; decreases a liability $600. decreases a liability $600; increases stockholders' equity $600. decreases an asset $600; decreases a liability $600. Under the cash basis of accounting: Revenue is recognized when services are performed. Expenses are matched with the revenue that is produced. cash must be received before revenue is recognized. a promise to pay is sufficient to recognize revenue. Under the accrual basis of accounting: cash must be received before revenue is recognized. net income is calculated by matching cash outflows against cash inflows. events that change a company's financial statements are recognized in the occur rather than in the period in which cash is paid or received. the ledger accounts must be adjusted to reflect a cash basis of account financial statements are prepared under generally accepted accounting The purchase of an asset for cash increases assets and stockholders' equity. increases assets and liabilities. decreases assets and increases liabilities. leaves total assets unchanged. Comstock Company provided consulting services and billed the client $2, 5 of this event assets remained unchanged. assets increased by $2, 500. equity increased by $2, 500 Both b and c