Jerry Frost invested equipment in his business having a fair market value of $23,500. What are the effects on the fundamental accounting equation? Os. Assets increase $23.500, liabilities, no effect; owner's equity increases $23.500. Ob. Assets decrease $23,500 tablities, no effect, owner's equity decreases $23,500 Oc. Assets decrease $23,500, liabilities, no effect, owner's equity increases 523.500 Od. Assets Increase $23.500, Rabilities Increase $23,500, owner's equity, no effect. Oe. Assets increase $23.500, Babilities decrease $23.500 owner's equity increases $23.500