2020) Time Left:0:28:39 Shakira Duran: Attempt 1 Question 16 (2 points) A transaction is listed below. Select the effect of the transaction on assets, liabilities and equity. You will always select two options. For example, if a company issued common stock to investors in exchange for cash, this would (1) increase assets and (2) increase equity. Purchased equipment on account Increase assets 6 Decrease assets Increase liabilities Decrease liabilities Increase equity Decrease equity