Question: QUESTION ANSWER Assets decrease and Equity increases. Smith Decorating Services pays $ 2 0 0 cash for rent expense. How would this transaction affect the

QUESTION
ANSWER
Assets decrease and Equity increases.
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 Liabilities increase.
Assets decrease and Liabilities decreases.
IDON'TKNOWYET

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