Assume the perpetual inventory method is used. 1) The company purchased $12,600 of merchandise on account under terms 2/10, n/30. 2) The company returned $2,100 of merchandise to the supplier before payment was made. 3) The liability was paid within the discount period. 4) All of the merchandise purchased was sold for $19,200 cash What effect will the return of merchandise to the supplier have on the accounting equation? Multiple Choice Assets and equity are reduced by $2,100. Assets and liabilities are reduced by $2,058 Assets and liabilities are reduced by $2,100. 1 5 None. It is an asset exchange transaction