For the following transaction, answer the questions that follow in accordance with the rules of journalizing and the double-entry accounting system: Transaction: James Company paid balance due of $4,300 on equipment that had been previously purchased on account. Which two accounts are affected? Choose one Choose one What kind of accounts are they? Choose one Choose one Do the account balances increase or decrease? Increase Decrease Increase Decrease Do we debit or credit the accounts? Debit Credit Debit Credit