Kwik Trip location in La Crosse paid $38,000 of its accounts payable in cash. What impact does this transaction have on Kwik Trip's accounting equation? Multiple Choice None of these selections are correct Assets would decrease $38,000, liabilities would decrease $38,000, and equity would not change. There would be no effect on the accounts because the accounts are affected by the same amount. Assets would decrease $38,000, liabilities would decrease $38,000, and equity would decrease $38,000