if a company uses $ 1,340 of it's cash to purchase supplies, the effect on the account equation would be?

assets increase $1,340 and liabilities decrease $1340

one asset increases $1340 and another asset decreases $1340, causing no effect

assets decrease $1340 and equity decreases $1340

assets decrease $1340 and equity increases $1340

assets increase $1340 and liabilities increase $1340