On $8/8,$ LIET, Ltd$.$ pays a creditor $$6,800$ in cash for inventory purchased in a previous period on account. What is the impact of this cash payment to the creditor on $8/8$ LIET$$s accounting equation?

Group of answer choices

Assets decrease $$6,800$ and Stockholders$$ Equity decreases $$6,800$

Liabilities decrease $$6,800$ and Stockholders$$ Equity increases $$6,800$

One asset decreases $$6,800$ and another asset increases $$6,800$

Assets decrease $$6,800$ and liabilities decrease $$6,800$

Assets increase $$6,800$ and liabilities increase $$6,800$