An Accountant Has Debited an Asset Account for $500 and Credited

Multiple Choice

An accountant has debited an asset account for $500 and credited a revenue account for $1,000. What can be done to complete the recording of the transaction?

A) Debit another asset account for $500.
B) Debit a shareholders' equity account for $500.
C) Nothing further must be done.
D) Credit a different asset account for $500.