Assume the perpetual inventory method is used. .The company purchased $13,100 of merchandise on account under terms 4/10, n/30. The company returned $2,600 of merchandise to the supplier before payment was mac The liability was paid within the discount period. All of the merchandise purchased was sold for $20,200 cash. What effect will the return of merchandise to the supplier have on the accounting equation Multiple Choice Assets and liabilities are decreased by $2,496. Assets and liabilities are decreased by $2,600. O Assets and stockholders' equity are decreased by $2,600. None. It is an asset exchange transaction