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What is the effect of the payment on blenham accounting

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Reference no: EM132993616

Question 1: 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 increase.
b. Assets decrease and liabilities increase.
c. Assets and stockholders' equity decrease.
d. There is no net effect.

Reference no: EM132993616

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