If a company uses $1,300 of its cash to purchase supplies,
the effect on the accounting equation would be:
assets decrease $1,300 and equity decreases $1,300.
one asset increases $1,300 and another asset decreases
$1,300, causing no effect.
assets decrease $1,300 and equity increases $1,300.
assets increase $1,300 and liabilities increase $1,300.
assets increase $1,300 and liabilities decrease $1,300.
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