Determine the increases and decreases in the five accounting types by choosing the correct answer. Recorded depreciation of $3,000 for the period. Assets increase, equity increases, expenses increase Assets decrease, liabilities decrease. Assets decrease, equity decreases, expenses decrease. Assets decrease, equity decreases, expenses increase. Question 24 4 pts Determine the increases and decreases in the five accounting types by choosing the correct answer. Paid for the inventory purchased for $3,500 on account. Assets increase, liabilities increase. Assets decrease, liabilities decrease. Assets decrease, equity decreases, expenses increase. ties decrease, equity increases, revenues increase