Lakesha Corp. purchased $3,000 of supplies on account. The supplies will be used over the next few months. This event causes

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This transaction increases the amount of supplies that Lakesha Corp. holds, which is an asset. At the same time, it also increases the company's liabilities because it now owes $3,000 for the supplies purchased on credit. Therefore, both assets and liabilities increase, and there is no impact on shareholders' equity or expenses at this time.