You operate a lawn care business. On May 1, 20x4, one of your customers paid you $557 for lawn care for the summer of 20x4. What is the effect of this transaction on the accounting equation? Select one: O a. There is no effect on the accounting equation Ob. Assets increase by $557 and shareholders' equity increases by $557 O c. Liabilities increase by $557 and shareholders' equity increases by $557 Od. Assets increase by $557 and liabilities increases by $557