27 1 pts Payment is made for machinery purchased previously on credit. What effect does this transaction have on the accounting equation? O Assets and liabilities increase. O Assets and share capital increase. O Assets and liabilities decrease. O Liabilities decrease and retained earnings increase. Question 28 Which of the following transactions does NOT affect total assets? O Customers are billed for services provided on credit. New equipment is purchased on credit. Dividends are paid to shareholders. A bill is received for last month's utilities. 1 pts