Given the following transaction: Paid off accounts payable. Required: For the transaction above, complete the following: (a) Select the accounts that are affected (there will be at least (b) Are the selected accounts increased or decreased? (c) If Equity is selected, choose the reason that it has changed. Account Which account is affected? Why has Equit Is the account increased or decreased? Increased Decreased Cash Accounts Receivable Increased Decreased . Supplies Increased Decreased Increased Decreased Prepaid insurance Explanation Check