Assume that in January 2021 Blue Door Boutique discovered a notice requesting payment for marketing services of $7,500 that had occurred in November 2020. How would this transaction be recorded in Blue Doors accounts for the year ended December 31st 2020?

Select one:

a. Increase expenses which will decrease equity and increase liabilities. by $7,,500

b. Increase expenses which will increase equity and increase liabilities. by $7,,500

c. Decrease expenses which will increase equity and increase liabilities. by $7,,500

d. Increase expenses which will decrease equity and decrease liabilities. by $7,,500