An Accountant Has Debited an Asset Account for $1,200 and Credited

Multiple Choice

An accountant has debited an asset account for $1,200 and credited a liability account for $500.What can be done to complete the recording of the transaction?

A) Nothing further must be done.
B) Debit a Stockholders' equity account for $700.
C) Debit another asset account for $700.
D) Credit a different asset account for $700.