The corporation received cash from customers for accounts receivable due. The journal entry to record this transaction will increase assets and increase liabilities. have no effect on total assets. decrease liabilities and increase stockholders' equity, increase assets and increase stockholders' equity. The Cash account had the following beginning balance and postings for the month of July. Beginning balance: exist20,000 Jul 5: debit posting of exist9,000 Jul 10: credit posting of exist11,000 Jul 15: debit posting of exist12,000 Jul 20: credit posting of exist10,000 Jul 25: debit posting of exist15,000 Jul 30: credit posting of exist8,000 The ending balance in the Cash at the end of July is a exist27,000 debit balance. exist27,000 credit balance. exist29,000 credit balance. exist56,000 debit balance. Average Collection Period shows the average number of days it takes to sell an inventory item for cash. the average number of days to collect a receivable. the average number of days it takes to get an inventory item from a supplier. the average number of days it takes to sell an inventory item on credit. What is the effect of the purchase of treasury stock on the total dollar amounts of Assets, Liabilities, and total Stockholders' Equity? Increase Assets: no change in Liabilities: increase total Stockholders' Equity Decrease Assets: no change in Liabilities: decrease total Stockholders' Equity Decrease Assets: increase Liabilities: no change in total Stockholders' Equity No change in Assets: no change in Liabilities: no change in total Stockholders' Equity