The following entry was journalized in the books of Bright Company: Nov. 3 Customer Refunds Payable 120 Accounts ReceivableTillet Co. 120 Granted customer an allowance. What is the impact of this entry on the accounting equation? a. an increase in Assets and an increase in Owner's Equity b. a decrease in Assets and a decrease in Liabilities c. an increase in Assets and an increase in Liabilities d. a decrease in Assets and a decrease in Owner's Equity