On September 1, 2015, Richard started a small business called "Ricky Rock Wrestling for Fun". "Ricky Rock" offers a party package designed for active kids, teen and adults that want to learn and practice wrestling activities for fun by learning how to perform headlocks, leg scissors and other tricks.
The following transaction occurred during the first month of operations, please indicate what's the effect on the accounting equation:
| September |
Description |
Amount |
| 15 |
Pays first 2 months of insurance |
$1,200 |