The Accountant at Error Prone Company Recorded the Purchase of $300

Multiple Choice

The accountant at Error Prone Company recorded the purchase of $300 of supplies for cash as an increase to Supplies for $300 and an increase to Accounts Payable for $300.
Determine the effect of this error on the accounting equation of Error Prone Company.

A) Total Equity would be overstated by $300
B) Total Liabilities will be understated by $300
C) Total Assets would be overstated by $300
D) Total Equity would be understated by $300