If a company uses $1,350 of its cash to purchase supplies, the effect on the accounting equation would be: Question 17 options: Assets increase $1,350 and liabilities decrease $1,350. One asset increases $1,350 and another asset decreases $1,350, causing no effect. Assets decrease $1,350 and equity decreases $1,350. Assets decrease $1,350 and equity increases $1,350