Cushion Sports accepted a credit card account receivable in exchange for $5,000 of services provided to a customer. The credit card company charges a 5% service charge. Recording the transaction in the company's accounting records will have what effect on the accounting equation?
a. Increase assets and equity by $4,750
b. Decrease assets and equity by $250
c. Increase assets by $5,000
d. Increase equity by $5,000
a
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