nts liabi... Celery Company has assets of $150,000, liabilities of $90,000, and equity of $60,000. It buys supplies for cash $5,000. What effect would this transaction have on the accounting equation? Multiple Choice eBook Print ferences Assets, $5,000 decrease, equity, $5,000 decrease. Assets, $5,000 increase, equity. $5,000 decrease. Liabilities, $5,000 increase, equity. $5,000 decrease. Assets, no effect liabilities, no effect