Homework Answers
The correct answer is Option C - Assets increase $12800 and liabilities increase $12800
(though the right option can also be increase in Assets $12800 and increase in Equity $12800)
Notes
Cash is coming in the business and hence would increase resulting in increase in Assets of the Company.
Since the company owes this amount of $12800 to the owner, the owner's account will get credited and since it is a liability for the company, the total liabilities would increase.
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