Indicate the effect of each transaction on the Accounting Equation by choosing the appropriate choice below: a. Increase in an asset, decrease in another asset. b. Increase in an asset, increase in a liability. c. Increase in an asset, increase in stockholders' equity. d. Decrease in an asset, decrease in a liability. e. Decrease in an asset, decrease in stockholders' equity. f. Increase in a liability, decrease in stockholders equity. g. Decrease in a liability, increase in stockholders equity.

1.At the end of the year, a count of supplies was conducted. $600 in supplies was used and requires an adjusting entry.

2. At the end of the month, the depreciation adjusting entry was recorded in the amount of $2,000.