Item$1$

Time Remaining $44$ minutes $49$ seconds$00$:$44$:$49$

Item $1$

Time Remaining $44$ minutes $49$ seconds$00$:$44$:$49$

If a company uses $$1,510$ of its cash to purchase supplies, the effect on the accounting equation would be:

Multiple Choice

Assets increase $$1,510$ and liabilities decrease $$1,510.$

Assets decrease $$1,510$ and equity increases $$1,510.$

Assets increase $$1,510$ and liabilities increase $$1,510.$

Assets decrease $$1,510$ and equity decreases $$1,510.$

One asset increases $$1,510$ and another asset decreases $$1,510,$ causing no effect.