Suppose the following transaction(s) happen: A firm issues long-term debt and receives $50,000 in cash.

What happens to the various sections of the balance sheet?

Short-Term Assets go up by $50,000 and Long-Term Liabilities go up by $50,000

Short-Term Assets go up by $50,000 and Long-Term Assets go down by $50,000

Short-Term Assets go up by $50,000 and Owners' Equity goes down by $50,000

Short-Term Assets go up by $50,000 and Long-Term Liabilities go down by $50,000

Short-Term Assets go up by $50,000 and Owners' Equity goes up by $50,000