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A company purchased inventory on account for $52,000. What is the net impact of this transaction on assets, liabilities, and net income in the current

image text in transcribed A company purchased inventory on account for $52,000. What is the net impact of this transaction on assets, liabilities, and net income in the current period? Assets decrease; Liabilities decrease; Net income is unaffected Assets increase; Liabilities increase; Net income is unaffected Assets decrease; Liabilities decrease; Net income decreases Assets increase; Liabilities increase; Net income increases

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