Mulberry Corporation collected $16,000 from one of its customers, the amount owed from the previous month. How does this affect the accounting equation for Mulberry Corporation?

A. Assets increase by $16,000, assets decrease by $16,000
B. Assets increase by $16,000, liabilities increase by $16,000
C. Assets increase by $16,000, equity increases by $16,000
D. Assets increase by $16,000, liabilities decrease by $16,000

Answer rating: 100% (QA)

Answer The correct answer is Option A which is As... View the full answer