Question 26 David Company purchased supplies on account for $26,000. This transaction will: Not yet answered Marked out of 1.00 Flag question O A. increase liabilities and decrease equity by $26,000. OB. increase assets and decrease equity by $26,000. O C. increase assets and increase liabilities by $26,000. O D. increases revenue and decreases expenses O E have no effect on the accounting equation. Question 26 David Company purchased supplies on account for $26,000. This transaction will: Not yet answered Marked out of 1.00 Flag question O A. increase liabilities and decrease equity by $26,000. OB. increase assets and decrease equity by $26,000. O C. increase assets and increase liabilities by $26,000. O D. increases revenue and decreases expenses O E have no effect on the accounting equation