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And originally purchased for $30,000 is sold for $62,000 in cash. what is the effect of the sale on the accounting equation? a. assets increase by $62,000; liabilities decrease by $30,000; owner's equity increases by $32,000 b. assets increase by $32,000; owner's equity increases by $32,000 c. assets increase by $30,000; no change in liabilities; owner's equity increases by $62,000 d. assets increase by $62,000; owner's equity increases by $62,000
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And originally purchased for $30,000 is sold for $62,000 in cash. what is the effect of the sale on...
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