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On June 1 Team Snap paid $54,000 to NYC Realty for 12 months of rent beginning June 1. The company correctly recorded the transaction on
On June 1 Team Snap paid $54,000 to NYC Realty for 12 months of rent beginning June 1. The company correctly recorded the transaction on June 1. As a result of this transaction, the effect on Assets, Liabilities and Equity was as follows (as of June 1): O A. Assets increased, Liability increased, Equity remained unchanged B. Assets increased, Liability unchanged, Equity remained unchanged O C. Assets unchanged, Liability unchanged, Equity unchanged O D. Assets decreased, Liability increased, Equity decreased O E. Assets decreased, Liability increased, Equity unchanged
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