Select a transaction that effects the accounting equation as follows: Transaction Effect a Decreases an asset and decreases equity b. Increases an asset and increases a liability, c. Decreases a fiability and increases a liability a. Decreases an asset and decreases a liability e. Increases an asset and decreases an asset. 1. Increases a liability and decreases equity. 9. Increases an asset and increases equity Business Incurs an expense pald in cash Business Incurs an expense that is not yet pald Business pays an account payable with cash Business purchases equipment on credit Business purchases office supplies for cash Select a transaction that effects the accounting equation as follows: Transton Effect .. Decreases an asset and decronses equity. b. Increason an asset and increases a liability, c. Decreases a liability and increases a liability, d. Decreases an asset and decreases a liability, o. Increases an asset and decreases an asset t. Increases a liability and decreases equity 9. Increases an asset and increases equity Business pays an account payable with cash Business purchases equipment on credit Business purchases office supplies for cash Business signs a note payable to extend the due date on an account payable Stockholder invests cash in the business