Indicate How This Event Affects the Accounting Equation $\quad$ $\quad$

Essay

Indicate how this event affects the accounting equation. Use the following letters to record your answer in the box shown below each element. If an event increases one account and decreases another account within the same element, record I/D. If an event has no impact on the element, record NA. You do not need to enter amounts.Increase = I Decrease = D Not Affected = NAPierce Company paid $40,000 cash to purchase land.
$\quad$ $\quad$ $\quad$ $\quad$$\text { Balance Sheet }$
$\text { Assets }=\text { Liabilities }+\quad \text { Stockholders' Ecuity }$