During 2023, CliffCo Inc. incurred operating expenses of $250,000, of which $150,000 was paid in cash; the balance will be paid in January 2024. Transaction analysis of operating expenses for 2023 should reflect only the following:
a. Decrease stockholders’ equity, $150,000; decrease assets, $150,000.
b. Decrease assets, $250,000; decrease stockholders’ equity, $250,000.
c. Decrease stockholders’ equity, $250,000; decrease assets, $150,000; increase liabilities, $100,000.
d. Decrease assets, $250,000; increase liabilities, $100,000; decrease stockholders’ equity, $150,000.
e. None of the above is correct.