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1. If a company uses $1,300 of its cash to purchase supplies, the effect on the accounting equation would be: A. Assets increase $1,300 and
1. If a company uses $1,300 of its cash to purchase supplies, the effect on the accounting equation would be:
A. Assets increase $1,300 and liabilities decrease $1,300
B. One asset increases $1,300 and another asset decreases $1,300, causing no effect
c. Assets decrease $1,300 and equity decreases $1,300
D.Assets decrease $1,300 and equity increases $1,300
E.Assets increase $1,300 and liabilities increase $1,300
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