jones Enterprises paid $50,000 cash to purchase land. As a result of this event

1- Total Assets Increased by 50,000

2- Total Assets Decreased by 50,000

3- Total Assets did not change.

4- Total Equity Increased by 50,00

2- On December 31, 2017, hp lt Food Supplies recorded a transaction which showed that the company owed $1,500 in salaries to employees who had worked in December, but wouldn't be paid until January. Which of the following is true regarding this event?