Mrs. Morris, the owner, purchases office supplies for $1,850 from The Depot on account.

Required:

What is the effect of thistransactionon individualassetaccounts, individualliabilityaccounts, and theOwner's Equityaccount?

Check all that apply.

An asset account increases.

An asset account decreases.

A liability account increases.

A liability account decreases.

Owner's Equity increases.

Owner's Equity decreases.