If a company uses $1,370 of its cash to purchase supplies, the effect on the accounting equation would be: Multiple Choice One asset increases $1370 and another asset decreases $1,370, causing no effect Assets increase $1,370 and liabilities increase $1370 Assets Increase $1.370 and es decrease 51370 Assets decrease $1370 and equity decreases $1270 Axes decine 51370 and equity increates $1.370