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For each of the following transactions, choose the subsidiary record or records affected by the transaction and the effect on each (increase or decrease) from
For each of the following transactions, choose the subsidiary record or records affected by the transaction and the effect on each (increase or decrease) from the list provided a. Inventory was received but not paid for on a purchase order Payment terms were 2% 10, Net 30. 1. Inventory decrease, Accounts Payable decrease 2. Inventory decrease, Accounts Payable increase 3. Inventory increase, Accounts Payable increase 4. Inventory increase, Accounts Payable decrease 5. None of the above
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