A transaction to record the purchase of assets on credit would involve 1.00 Flag Select one O a Increasing assets and reducing accounts payable O b. Reducing assets and reducing accounts payable c. Increasing accounts payable and increasing assets O d. Increasing accounts payable and reducing assets Clear my choice A transaction to record the sale of merchandise for profit on credit would have the following effect Marked out of 1.00 I Flag question Select one O a Increase sales and decrease inventory O b. Increase profit and increase sales c. Increase accounts receivable and increase sales d. All of the above Clear my choice A transaction to record the purchase of merchandise for cash would have the following effect Question 6 Arved Marted out of 100 Flag Select one: O a Increase in expenses and assets O Increase in expenses and abilities O c Increase in expenses and decrease in assets d. Total assets will not change