QUESTION 2 A credit entry: a. decreases common stock. b.increases expenses. O c. decreases liabilities. O d. decreases assets. QUESTION 3 Wren Company began the accounting period with a $32,000 debit balance in its accounts receivable account. During the accounting period, the company recorded revenue on account amounting to $88,000. The accounts receivable account at the end of the accounting period contained a $16,000 debit balance. Based on this information, the cash collected from accounts receivable during the period is O a. $104,000 b. $84,000 c. $72,000 O d. $40,000 uCTION