Question 66 2 pts The transaction involving the collection of account receivable amounting to P50,000 during the month by a company from a total account receivable balance of P350,000 will have which of the following effect in its total assets at month-end? O P50,000 decrease O No effect P300,000 increase P50,000 increase D Question 65 2 pts The shop started the year with total assets of P90,000 and total liabilities of P60,000. During the year, the shop owner invested a used machinery in the shop. This machinery had a P30,000 cost two years ago and may now be sold for P18,000. The shop also purchased an equipment for P10,000 payable within 30 days. For the year, the shop recorded P150,000 in service revenues, P100,000 in expenses. How much was the company's total amount of liabilities and owner's equity? O P168,000 P98,000 O P120,000 O P110,000