Q3-52. An adjusting entry recorded April salary expense that will be paid in May. Which statement best

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Q3-52. An adjusting entry recorded April salary expense that will be paid in May. Which statement best describes the effect of this adjusting entry on the company’s accounting equation?

a. Assets are not affected, liabilities are increased, and shareholders’ equity is decreased.

b. Assets are not affected, liabilities are increased, and shareholders’ equity is increased.

c. Assets are decreased, liabilities are increased, and shareholders’ equity is decreased.

d. Assets are decreased, liabilities are not affected, and shareholders’ equity is decreased.

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