On 6/1, Parker Corp sold merchandise for $3,200 to Merton Company with credit terms of 3/15, n/30. The cost of the goods was $1,900. What effect does the sale have on the basic accounting equation? O increase in Assets of $1,300, decrease in Liabilities of $1,900, and increase in Stockholders' Equity of $3,200 Onet increase in both Assets and Stockholders' Equity of $1,300 increase in Assets of $1,300 and decrease in Stockholders' Equity of $1,300 Onet decrease in both Assets and Stockholders' Equity of $1,300

On 6/1. Parker Corp sold merchandise for $3,200 to Merton Company with credit terms of 3/15,n/30. The cost of the goods was 51,900. What effect does the sale have on the basic accounting equation? increase in Assets of $1,300, decrease in Liabilities of $1,900, and increase in Stockholders' Equity of \$3,200 net increase in both Assets and Stockholders' Equity of \$1,300 increase in Assets of $1,300 and decrease in Stockholders Equity of $1,300 net decrease in both Assets and Stockholders' Equity of $1,300