Question 2 If a firm receives in May $10.000 cash from customers for contracts billed in April, the journal entry results in, an increase in assets \& a decrease in assets an increase in assets & an increase in liabilities an increase in assets 8 an increase in equity a decrease in assets 8c a decrease in liabulities Question 2 If a firm receives in May $10.000 cash from customers for contracts billed in April, the journal entry results in, an increase in assets \& a decrease in assets an increase in assets & an increase in liabilities an increase in assets 8 an increase in equity a decrease in assets 8c a decrease in liabulities