Multiple Choice
Blenham, Inc.sells merchandise on credit.If a customer pays its balance due after the discount period has passed, what is the effect of the payment on Blenham's accounting equation?
A) Assets and stockholders' equity decrease.
B) Assets decrease and liabilities increase.
C) Assets and stockholders' equity increase.
D) No net effect.
Correct Answer:
Verified
Correct Answer:
Verified
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