Sam Lue, founder and owner of an auto part repair shop, purchased equipment worth $20,000 and paid half in cash and with half due on account in a month. How should this transaction be recorded in the books? Select one: a. Increase (Debit) Equipment $20,000; Increase (Credit) Accounts Payable $20,000 b. Increase (Debit) Equipment $20,000; Decrease (Debit) Cash $10,000; Decrease (Debit) Accounts Payable $10,000 c. Increase (Debit) Equipment $20,000; Decrease (Credit) Cash $10,000; Increase (Credit) Accounts Payable $10,000 d. Increase (Debit) Equipment $20,000; Decrease (Credit) Cash $20,000