What is the effect on the accounting equation of the following transaction Paid the current months mobile phone bill of $350 a Increase assets and increase liabilities b Decrease assets and increase owners equity c Decrease assets and increase liabilities d Decrease assets and decrease owners equit...

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What is the effect on the accounting equation of the following transaction: Paid the current months mobile phone bill of $350? a. Increase assets and

What is the effect on the accounting equation of the following transaction: Paid the current months mobile phone bill of $350"?

	a.	Increase assets and increase liabilities
	b.	Decrease assets and increase owners equity
	c.	Decrease assets and increase liabilities
	d.	Decrease assets and decrease owners equity
	e.	Increase assets and decrease liabilities

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