Simpson Auto Body Repair purchased $19,827 of Machinery. The company paid $3,900 in cash at the time of the purchase and the remainder was purchased on account to be paid in four monthly installments. a. How will the purchase affect the accounting equation? total assets by a net amount of $ Decrease and liabilities by $ b. How will the payment of the first monthly installment affect the accounting equation (ignore interest)? assets by $ liabilities by $ and