Impact on the accounting equation of receiving a check


Question: What is the impact on the accounting equation of receiving a check from customers for work to be performed over the next three periods (none in this period)?

A.
Assets: increase
Liabilities: increase
Equity: no change

B.
Assets: increase
Liabilities: no change
Equity: increase

C.
Assets: increase
Liabilities: decrease
Equity: increase

D.
Assets: increase
Liabilities: increase
Equity: increase.

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Accounting Basics: Impact on the accounting equation of receiving a check
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