$6$

Multiple Choice

$6$ points

On January ${10}^{th}$ Bednar Corp received $$112,000$ in cash for services that Bednar Corp will perform in June. What is the effect on the accounting equation?

Increase Assets $$112,000$; Increase Retained Earnings $$112,000$

Increase Assets $$112,000$; Decrease Liabilities $$112,000$

Decrease Assets $$112,000$; Increase Retained Earnings $$112,000$

Increase Assets $$112,000$; Increase Liabilities $$112,000$

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