If a company uses $1,520 of its cash to purchase supplies, the effect on the accounting equation would be: Multiple Choice 55:05 Assets increase $1520 and liabilities decrease $1520 Boek One asset increases $1.520 and another asset decreases $1,520, causing no effect. Assets decrease $1,520 and equity decreases $1.520 C Assets decrease $1520 and equity increases $1,520 Assets increase $1520 and be increase 51520. 2 of 35 II Next > MacBook Air 30 909 00 4 A # 3 % 5 & 7 6 8 9 Q W E R T Y U 0 S D F J L