Micha Jewelers loaned $50,000 to a supplier on October 1,2004 at 10 percent interest, to be repaid on January 1 of the following year. Micha fiscal year ends December 31 . What is the effect on the accounting equation of Micha Jewelers on January 1, 2005, the day the loan is repaid? Interest revenue (part of owner's equity) increases by $2,500. Interest revenue (part of owner's equity) increases by $5,000. Cash (an asset) increases by $51,250. Interest revenue (part of owner's equity) increases by $1,250