6Jack's Snow Removal Company received a cash advance of $10,500 on December 1, 2016 to provide services during the months of December, January, and February. The 2016 year-end adjustment to recognize the partial expiration of the contract will Multiple Choice O O increase equity by $3,500 increase assets by $3,500 increase liabilities by $3,500 both A and B

Jack's Snow Removal Company recelved a cash advance of $10,500 on December 1 , 2016 to provide services during the months of December, January, and February. The 2016 year-end adjustment to recognize the partial expiration of the contract will Multiple Choice increase equity by $3,500 increase assets by $3,500 increase liabilities by $3,500 both A and B Jack's Snow Removal Company received a cash advance of $10,500 on December 1 , 2016 to provide services during the months of December, January, and February. The 2016 year-end adjustment to recognize the partial expiration of the contract will Multiple Choice increase equity by $3,500 increase assets by $3,500 increase liabilities by $3,500 both A and B