On June 1, Powell Book Company sold CNN's Bookstore $12,900 of books for cash. During the month,

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Question:

On June 1, Powell Book Company sold CNN's Bookstore $12,900 of books for cash. During the month, CNN's Bookstore returned books costing $1,500 to Powell for a cash refund. In the same month, CNN's sold the remaining books to their customers for a total of $15,300. As a result of these transactions, at the end of the month, CNN's accounting equation will show a net

A) Increase of Equity of $3,900

B) Increase of Assets of $15,300

C) Decrease of Assets of $11,400

D) Increase of Equity of $5,400