A company received a $24,000 payment for services to be performed over the next few months. What would the effect of this transaction on the current years accounting equation?

Select one:

A. No effect on Assets; $24,000 decrease in Liabilities; $24,000 increase in Stockholders Equity

B. $24,000 increase in Assets; $24,000 increase in Liabilities; No effect on Stockholders Equity

C. $24,000 increase in Assets; No effect on Liabilities; $24,000 increase in Stockholders Equity

D. No effect on Assets; $24,000 increase in Liabilities; $24,000 decrease in Stockholders Equity