A company paid off $10,000 of its accounts payable in cash. How does this transaction effect the accounting equation? Select one: a. Assets decrease by $10,000; liabilities decrease by $10,000; equity does not change. b. Assets decrease by $10,000; liabilities do not change; equity decreases $10,000. C. Assets do not change; liabilities Wecrease by $10,000; equity increases by $10,000. d. Assets decrease by $10,000; liabilities increase by $10,000; equity does not change. e. Assets increase by $10,000; liabilities do not change; equity increases by $10,000