Effect of Transactions on Accounting Equation a. A vacant lot acquired for $298.000 is sold for $575,000 in cash. What is the effect of the sale on the total amount of the ser's (1), (2) lisand (3) holders' equity? there is no change select to change from the dropdown and then enter a "o in the amount box Effect Amount 1. Total Assets 2. Total abilities 3. Stockholders' Equity b. Assume that the seller Owes $63.500 on a loan for the land. Aher receiving the 5575.000 cash in other pay the $3.500 ewed. What is the effect of the payment on the total of the wees (1) and (3) stockholders' equity? If there is no change the 'No change from the dropdown and then enter must be consider only the wolf of the town without considering the sale of the land. Effect Amount 1. Total Assets 2. Total abilities 3. Stockholders' Equity c. Is true that a transaction always affects at least two elements (Assets abilities or Stockholders Equity) of the accounting equation