Tom Goldman deposits $1,000 in newly printed birthday cash into his checking account at the bank.How would this be recorded on the bank's balance sheet?
A) Assets and liabilities will both fall by $1,000.
B) Assets and liabilities will both rise by $1,000.
C) Assets will fall by $1,000 and liabilities will rise by $1,000.
D) Assets will rise by $1,000 and liabilities will fall by $1,000.
E) There will be no initial change to assets and liabilities.
Correct Answer:
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