MI. Lee, the owner purchases store supplies for $2,600, paying 20% of the amount due in cash and agreeing to pay the balance at a later date. Required: What is the effect of this transaction on individual asset accounts, individual obat accounts, and the Owner's Kouty account? Check all that apply An asset account increases A liability account increases Owner's Equity increases An annet account decreases A liability account decreases Owner's Equity decreases 1