Indicate the effects of the following business transactions on the accounting equation of a proprietorship. Transaction a. is a. Received $50,000 cash from the owner Assets Liabilities Owner's Equity + Accounts Office Office Accounts Owner's Cash + Furniture + Land + Receivable + No effect Supplies + No effect Increase Payable No effect No effect No effect Equity Increase Decrease Decrease No effect No effect No effect No effect No effect c. Paid $3,500 cash to purchase office supplies. Assets Liabilities Owner's Equity Cash Decrease Accounts Receivable + No effect Office Supplies + Increase Office Furniture Decrease Land No effect Accounts Payable Increase 7 Owner's Equity Decrease Choose from any drop-down list and then click Check Answer parts remaining Clear All search o DLL F4 FS F6 FZ F8 F9 F10 F11 F12 3 p % A $ ? & * 5 6 - 7 8 2 9 3 014 o E R . Y