The above mentioned transaction will affect the Assets side of the accounting equation or the Assets side of the balance sheet
Since we use cash of $1,410 the cash account would be debited with $1,410. In other words cash will be reduced by $1,410
Since the cash is used to purchase supplies, the inventory will be credited with $1,410. This means the inventory would be increased by $1,410.
Hence in conclusion, the two accounting activities would be a debit of $1,410 on cash and a credit of $1,410 on the inventory. So the net of the Assets remains unchanged.
