Question 29 (1 point) Payment is made for an electric bill which was received and recorded earlier. For this transaction, identify the effect on the accounting equation. O Liabilities increase and stockholders' equity decreases. Liabilities decrease and assets decrease. Assets increase and liabilities increase Assets increase and stockholders' equity increases. Question 30 (1 point) Miriah Darden Inc. reports these account balances at January 1, 2017: Retained Earnings Accounts Receivable Accounts Payable Capital Stock Land Cash Equipment Notes Payable Buildings $ 49,000 20,000 24.000 185,000 153,000 13,000 20,000 28,000 80,000 On January 31, Darden collected $12,000 of its accounts receivable and paid $11,000 on its note payable. In Darden's trial balance prepared on January 31, 2017, the total of the credit column is $297,000