If Mr. Ajasin paid his creditors N5000 out of N20 000 owed, what would be the effect of this transaction on the accounting equation?
A A decraese in the total asssets by N5000
B An incraese in the total liabilities and owners’ equity by by N15 000
C An increase in the total assets by N15 000
D A decrease in owners’ equuity by N5000
Answer is A
