The Business Collects a $5,000 Account Receivable from Its Customer

Multiple Choice

The business collects a $5,000 account receivable from its customer.How is the accounting equation affected?

A) Assets increase $5,000; liabilities decrease $5,000.
B) One asset increases by $5,000; another asset decreases $5,000.
C) Assets increase $5,000; liabilities increase $5,000.
D) Assets increase $5,000; owner's equity increases $5,000.