Which of the following changes describes the purchase of $2,000 of inventory through payment on credit?
A) Assets and shareholders' equity increase by $2,000.
B) Assets and shareholders' equity decrease by $2,000.
C) Assets and liabilities increase by $2,000.
D) Assets and liabilities decrease by $2,000.
Correct Answer:
Verified
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A)increases with a credit.
B)decreases
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