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Which of the following statements correctly describes the effect of recording the collection of a $ 1 8 , 0 0 0 account receivable for

Which of the following statements correctly describes the effect of recording the collection of a $18,000 account receivable for which a 2% sales discount was recorded at the time of collection?
Multiple Choice
Net sales will increase $17,640.
Gross profit will decrease $360.
Accounts receivable will decrease $17,640.
Current assets will remain the same.

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