QUESTION 13 Received advertising bill from New York Times of $5,000. What is the effect of this transaction on the accounting equation? a. increases an asset $5,000; decreases an equity $5,000. b. increases an liability $5,000; increase an equity $5,000. c. increases a liability $5,000; decreases an equity $5,000. Od. increases an asset $5,000; increases an equity $5,000.