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What is the effect on the accounting equation when cash is paid on account? a . An asset account decreases and a liability account decreases.

What is the effect on the accounting equation when cash is paid on account?

.

An asset account decreases and a liability account decreases.

.

An asset account increases and a liability account decreases.

.

An asset account decreases and a liability account increases.

.

Two asset accounts are changed.

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