Mbappe Airways replaces the seats in one of its airplanes. The new seats have a price of $970,000. The old seats have an original cost of $530,000 and accumulated depreciation of $478,000. Mbappe gave the old seats and $925,000 cash for the new seats. What is the effect of the entry to record the replacement on total assets?

• No effect

• Increase of $97,000

• Increase of 45,000

• Decrease of $7,000

• Decrease of $52,000