A cookie company includes one premium coupon in every cookie package. Upon returning 10 such coupons to the company, the customer will be sent a free cookie jar. In a recent year, the company sold 200,000 packages of cookies for $1 per package. It is estimated that 20% of the coupons will be redeemed. If the cookie jars cost the company $3 each, what amount of liability should be recorded? $4,000 $200,000 $40,000 $12,000 Machinery is purchased on credit. What effect does this transaction have on the accounting equation? O Liabilities increase and shareholders' equity decreases. Assets and liabilities decrease. Assets and shareholders' equity increase. Assets and liabilities increase