MAC pays $120 cash for their internet bill. What effect does this transaction have on the accounting equation?

Select one:

a.A decrease in the asset cash of $120 and a decrease in profit or loss of $120 to record the internet expense.

b.An increase in the asset cash of $120 and a decrease in profit or loss of $120 to record the internet expense.

c.A decrease in the asset cash of $120 and an increase in profit or loss of $120 to record the internet expense.

d.A decrease in the asset cash of $120 and an increase in the liability accounts payable of $120.