11:02 Ahmad Hdifeh 1802023 Open in Safari 1 2 3 4 5 6 7 Question 1 Equipment is sold for cash in an amount equal to the cost of the equipment recorded on the books. How does this sale affect the accounting equation? Your answer: One asset increases; one asset decreases Assets increase; liabilities increase Assets increase; liabilities decrease Assets increase; owner's equity increases Clear answer Next Pause test 13 Home Courses Tasks Calendar Message