Saved If a company uses $1,560 of its cash to purchase supplies, the effect on the accounting equation would be Multiple Choice Assets increase $1,560 and liabilities increase $1,560. O One asset increases $1,560 and another asset decreases $1,560, causing no effect. O Assets decrease $1,560 and equity decreases $1,560. O Assets decrease $1,560 and equity increases $1,560. Assets increase $1,560 and liabilities decrease $1,560