Land, originally purchased for $26, 870, sold for $77, 247 in cash what the effect of the lessthanorequalto on the accounting equation? Select the correct answer, assets increase $77, 247, liabilities decrease $26, 870, stockholders equity am increases $50, 337 assets increase $50, 377, stockholders equity increases $50, 377 assets increase $77247 stockholders equity increases $77, 247 assets increase $20, 206 no change for liabilities stockholders equity increases $77, 247