Moving to another question will save this response. Question 7 Paid $1,000 cash for supplies. For the transaction above in the textbox provided, indicate with the appropriate letter whether the transaction will result in: A. An increase in assets and a decrease in assets. B. An increase in assets and an increase in owner's equity. C. An increase in assets and an increase in liabilities. D. An increase in assets and a decrease in liabilities. E. An increase in assets and a decrease in owner's equity. F. An increase in liabilities and a decrease in owner's equity. G. An increase in owner's equity and a decrease in liabilities. H. I. A decrease in assets and a decrease in owner's equity. A decrease in assets and a decrease in liabilities. J. A decrease in liabilities and an increase in owner's equity Only enter a letter in the textbox. (A, B, C, D, E, F, G, H, I, or J) Moving to another question will save this response.