During the current year, revenues of $700 were recorded, of which $400 was on credit and $300 was received in cash.Also, during the year, expenses of $1,100 were recorded, of which $450 was paid in cash and the rest was on credit. What combined increase or (decrease) did these transactions have on Assets, Liabilities, and Equity, respectively?

Select one:

a.$700, $450, $250

b.$300, $1,100, ($800)

c.$250, $300, ($50)

d.$250, $650, ($400)

e.$400, $650, ($25