$3$

Multiple Choice

$6$ points

On February $1.$ Mare and Corp paid $$29,500$ cash to rent office space for the month of February. How is Marquardt Corp's accounting equation effected?

Increase Assets $$29,500$; Decrease Retained Earnings $$29,500$

Increase Assets $$29,500$; Increase Retained Earnings $$29\mathrm{.}500$

Decrease Assets $$29,500$; Decrease Retained Earnings $$29,500$

Decrease Assets $$29,500$; Increase Retained Earnings $$29,500$

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