How does the following independent transaction affect the accounting equation for ABC Company On June 1 of the current year, paid $50,000 of rent in advance for October through December Multiple Choice Assets decrease, no effect on leblin; and no effect on owner's equity Assets decrease; no effect on fabilities; and owner's equity increases No effect on assets; no effect on liabilities; and no effect on owner's equity Assets decrease, abilities increase; and no effect on owner's equity 80 43 NE # 93 2 2 W E S 54 x D 22% FS 5 5 MacBook Air 66 g &7 D " 8 .0 R T Y U F G H J C > B N