The Accounting Equation for Long Company Shows an Increase in Its

Multiple Choice

The accounting equation for Long Company shows an increase in its assets and an increase in its liabilities. Which of the following transactions could have caused that effect?

A) Supplies were purchased for cash.
B) Cash was received from providing services to a customer.
C) Cash was received as an owner investment.
D) Equipment was purchased on credit.
E) Advertising expense for the month was paid in cash.