Alpha Company has assets of S626.000 abilities of $263 000, and equity of $363.000. It buys office equipment on credit for $88,000. What would be the effects of this transaction on the accounting equation? 02:26:03 Multiple Choice 0 Assets increase by $88.000 and expenses increase by $88.000 0 ) Assets increase by $88,000 and expenses decrease by $8,000 0 Lieblies increase by 588,000 and expenses decrease by 588,000 0 O Assets decrease by 588.000 and expenses decrease by 588.000. 0 Assets increase by S88 000 and abilities increase by SHROOO