Assume the perpetual inventory method is used. The company purchased $13,200 of merchandise on account under...

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Assume the perpetual inventory method is used. The company purchased $13,200 of merchandise on account under terms 3/10, n/30. The company returned $2,700 of merchandise to the supplier before payment was made. The liability was paid within the discount period. All of the merchandise purchased was sold for $20,400 cash. What effect will the return of merchandise to the supplier have on the accounting equation? Multiple Choice Assets and stockholders' equity are decreased by $2,700. Assets and liabilities are decreased by $2,619. Assets and liabilities are decreased by $2,700. None. It is an asset exchange transaction. Assume the perpetual inventory method is used. The company purchased $13,200 of merchandise on account under terms 3/10, n/30. The company returned $2,700 of merchandise to the supplier before payment was made. The liability was paid within the discount period. All of the merchandise purchased was sold for $20,400 cash. What effect will the return of merchandise to the supplier have on the accounting equation? Multiple Choice Assets and stockholders' equity are decreased by $2,700. Assets and liabilities are decreased by $2,619. Assets and liabilities are decreased by $2,700. None. It is an asset exchange transaction.