A business paid $7,000 to a creditor in payment of an amount owed. The effect of the transaction on the accounting equation was to O a. increase an asset, increase a liability b. decrease an asset, decrease a liability c. increase an asset, decrease another asset O d. increase an asset, increase stockholders' equity

A business paid $7,000 to a creditor in payment of an amount owed. The effect of the transaction on the accounting equation was to 2. increase an asset, increase a tiability b. decrease an asset, decreasic a liability 6. increave an asset, decrease another asset 1. increase an auset, incriease stockholders' oquity