How would the following transaction affect the accounting equation? Purchase Supplies on credit. Select one: O a. Increase Assets and increase SHE b. Increase Assets and increase Liabilities O c. Decrease Assets and Decrease SHE d. Decrease Assets and Decrease Liabilities e. Increase in Liabilities and Decrease in SHE O f. Decrease in Liabilities and Increase in SHE g. No effect on the accounting equation How would the following transaction affect the accounting equation? Perform services for a customer; customer pays cash. Select one: a. Increase Assets and Increase SHE b. Increase Assets and Increase Liabilities O c. Decrease Assets and Decrease SHE d. Decrease Assets and Decrease Liabilities e. Increase in Liabilities and Decrease in SHE f. Decrease in Liabilities and Increase in SHE g. No effect on the accounting equation O