Which of the following best defines a debit as it is used in double-entry accounting? A decrease in assets/expenses and a decrease in liabilities/owner's equity and revenue. An increase in assets/expenses and a decrease in liabilities/owner's equity and revenue. A decrease in assets/expenses and an increase in liabilities/owner's equity and revenue. An increase in liabilities/owner's equity and revenue and a decrease in assets/expenses. You are reviewing the general journal report. An entry has been made in the software that shows a debit of $50 to Accounts Payable and a credit of $50 to Cash. What occurred in the transaction? The company purchased new equipment. The company paid an invoice to their vendor. A vendor refunded the company for returns. A vendor paid their invoice to the company