Salam Optical is owned by Ali Salam. Salam bought equipment for use

Question

in the business with cash, $1850. Select the transaction description:
a. increases an asset and increases a liability
b. increases an asset and decreases an asset
c. decreases an asset and decreases a liability
d. increases an asset and increases owner's equity
e. decreases an asset and decreases owner's equity

Answer 1

b. increases an asset and decreases an asset