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Cunningham, Inc., purchased $ 8 , 0 0 0 of supplies on account. Which immediate effect did this transaction have on owners' equity? Multiple choice

Cunningham, Inc., purchased $8,000 of supplies on account. Which immediate effect did this transaction have on owners' equity?
Multiple choice question.
Owners' equity decreased by $8,000.
Owners' equity increased by $8,000.
It had no effect on owners' equity.

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