BQ Ltd, sells merchandise to a customer for $10,000, accepting $2,000 cash and an $8,000, 60-day not receivable. BQ Ltd. sets selling prices so that the cost of goods sold is always equal to 30% of sales. Which of the following correctly describes the effect of this sale on the accounting equation? Assume that BQ uses a perpetual system. Select one: a. Increase assets $5,000; decrease liabilities $2,000; increase equity $7,000 b. Increase assets $8,000; increase liabilities $2,000; increase equity $10,000 c. Increase assets $10,000; no effect on liabilities, increase equity $10,000 o d Increase assets $7000; no effect on liabilities; increase equity $7,000