TB MC Qu$.5-158($Static$)$ Suppose a customer is unable to$...$

Suppose a customer is unable to pay its account on time, so the company accepts a six$-$month interest$-$bearing note receivable to replace the

customer's account receivable. What effect will accepting the note receivable have on the company's financial statements at the time of

acceptance?

Multiple Choice

Total revenues increase

Total assets decrease

No change in total assets

Total assets increase