Question: QUESTION ( 1 ) ANSWER Smith Decorating Services pays $ 2 0 0 cash for rent expense. How would this transaction affect the accounting equation?

QUESTION
(1)
ANSWER
Smith Decorating Services pays $200 cash for rent expense.
How would this transaction affect the accounting equation?
Assets decrease and Equity decreases.
Assets decrease and Equity increases.
Assets decrease and Liabilities decreases.
Assets decrease and Liabilities increase.
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QUESTION ( 1 ) ANSWER Smith Decorating Services

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