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The business hires an office manager at $700 per week, to start work in one month's time

Accounting

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The business hires an office manager at $700 per week, to start work in one month's time.

The immediate effect on the accounting equation is to:

a) increase equity by $700 and decrease the asset cash by $700

b) decrease the asset cash by $700 and decrease equity by $700

c) have no effect as this is not a business transaction

d) increase wages by $700 and decrease equity by $700