You operate a lawn care business. On May 1, 20x4, one of your customers paid you $345 for lawn care for the summer of 20x4. What is the effect of this transaction on the accounting equation? Select one: a. Assets increase by $345 and shareholders' equity increases by $345 b. There is no effect on the accounting equation O C. Assets increase by $345 and liabilities increases by $345 O d. Liabilities increase by $345 and shareholders' equity increases by $345 Check