What is the effect of the following transaction on the basic accounting equation?

By the end of the month used up $$750$ of supplies you had on hand.

Question $4$ options:

$1)$

Liabilities decrease, owners' equity increases.

$2)$

No entry, no effect.

$3)$

Assets increase, liabilities increase.

$4)$

Assets decrease, liabilities decrease.

$5)$

Liabilities increase, owners' equity decreases.

$6)$

Assets increase, assets decrease.

$7)$

Assets increase, owners' equity increases.

$8)$

Assets decrease, owners' equity decreases.