A Business Collects $5,000 from Its Customer Which Was Owed

Multiple Choice

A business collects $5,000 from its customer which was owed since a previous month. How does this affect the accounting equation of the business?

A) Assets increase by $5,000; liabilities decrease by $5,000.
B) Assets increase by $5,000; assets decrease by $5,000.
C) Assets increase by $5,000; liabilities increase by $5,000.
D) Assets increase by $5,000; equity increases by $5,000.