If a company uses $1410 of its cash to purchase supplies, the effect on the accounting equation would be: O Assets decrease $1410 and equity increases $1410. O Assets increase $1410 and liabilities increase $1410. One asset increases $1410 and another asset decreases $1410, causing no effect. Assets decrease $1410 and equity decreases $1410. Assets increase $1410 and liabilities decrease $1410