An organization uses $30,000 of its cash to pay for employees' salaries at the end of a month. Which of the following describes the resulting balance sheet changes from this transaction? The cash account decreases by $30,000 and the accounts payable account decreases by $30,000 The cash account decreases by $30,000 and the equityet assets account increases by $30,000 The cash account decreases by $30,000 and the equityet assets account decreases by $30,000 The cash account decreases by $30,000 and the long term debt account decreases by $30,000 Question 28 (1 point) Per GAAP requirements, the balance sheet reports the assets, liabilities, and equity positions for an organization over a defined time period (e.g. annually). True False