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A company purchased inventory on credit for R60,000. If the company uses the perpetual inventory system and later returns R10,000 worth of inventory, how

 A company purchased inventory on credit for R60,000. If the company uses the perpetual inventory system and 

A company purchased inventory on credit for R60,000. If the company uses the perpetual inventory system and later returns R10,000 worth of inventory, how does this transaction affect the accounting equation? a. Assets decrease by R10,000; Liabilities decrease by R10,000 b. Assets decrease by R10,000; Owner's equity decreases by R10,000 c. Assets increase by R10,000; Liabilities increase by R10,000 d. Assets decrease by R60,000; Liabilities decrease by R60,000

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