On July 1, 2023, Mendieta Company paid $3,500 for July's rent on a warehouse. What is the effect of this transaction on Mendieta Company's assets, liabilities, and stockholders' equity? Increase in assets, no effect on liabilities, decrease in stockholders' equity. Decrease in assets, no effect on liabilities, decrease in stockholders' equity. Decrease in assets, no effect on liabilities, increase in stockholders' equity. No effect on assets, increase in liabilities, increase in stockholders' equity. Increase in assets, no effect on liabilities, increase in stockholders' equity. None of the listed choices are correct. Decrease in assets, increase in liabilities, decrease in stockholders' equity. Increase in assets, decrease in liabilities, no effect on stockholders' equity. No effect on assets, decrease in liabilities, increase in stockholders' equity.

On July 1,2023 , Mendieta Company paid $3,500 for July's rent on a warehouse. What is the effect of this transaction on Mendieta Company's assets, liabilities, and stockholders' equity? Increase in assets, no effect on liabilities, decrease in stockholders' equity. Decrease in assets, no effect on liabilities, decrease in stockholders' equity. Decrease in assets, no effect on liabilities, increase in stockholders' equity. No effect on assets, increase in liabilities, increase in stockholders' equity. Increase in assets, no effect on liabilities, increase in stockholders' equity. None of the listed choices are correct. Decrease in assets, increase in liabilities, decrease in stockholders' equity. Increase in assets, decrease in liabilities, no effect on stockholders' equity. No effect on assets, decrease in liabilities, increase in stockholders' equity