Question: Microlith received $ 2 0 , 0 0 0 cash in advance from customers. Which of the following statements correctly shows the effect of this

Microlith received $20,000 cash in advance from customers. Which of the following statements correctly shows the effect of this transaction on the accounting equation?
Multiple Choice
Assets will remain unchanged, liabilities will increase by $20,000, and stockholders' equity will increase by $20,000
Assets will increase by $20,000, liabilities will remain unchanged, and stockholders' equity will increase by $20,000
Assets will decrease by $20,000, liabilities will remain unchanged, and stockholders' equity will increase by $20,000

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