E. None of the above 7. Received $400 bill for utilities due in two weeks A. Liabilities Increase; Equity Decreases B. Assets Increase; Liabilities Increase C. Assets Decrease; Equity Decreases D. Assets Increase; Assets Decrease E. None of the above 8. Paid $1,000 to assistant for wages A. Assets Increase; Liabilities Increase B. Assets Increase; Assets Decrease C. Liabilities Increase; Equity Decreases D. Assets Decrease; Equity Decreases E. None of the above