Land was originallypurchased for $20, 000. It is sold for $65, 000 in cash. How does the sale affect the accounting equation?
A.
assets increase $65, 000; liabilities decrease $20, 000; owner's equity increases $45, 000
B.
assets increase $20, 000; no change for liabilities; owner's equity increases $55, 000
C.
assets increase $65, 000; owner's equity increases $65, 000
D.
assets increase $45, 000; owner's equity increases $45, 000