Joan is the proprietor of a manufacturing company. She purchased a machine worth $1,000 for the business on credit. How will this transaction affect the accounting equation? A. Assets ↑ (1,000) = Liabilities↑ (1,000) + Owners’ Equity B. Assets = Liabilities ↑ (1,000) + Owners’ Equity ↓ (1,000) C. Assets ↑ (1,000) = Liabilities + Owners’ Equity ↓ (1,000) D. Assets = Liabilities ↑ (1,000) + Owners’ Equity ↑ (1,000)