Hobson Company had the following transactions relating to its accounts payable. Use the financial statement effects template to identify the effects (both amounts and accounts) for these transactions. a. Purchases $1,890 of inventory on credit. b. Sells inventory for $2,475 on credit. C. Records $1,890 cost of sales for transaction b. d. Receives $2,475 cash toward accounts receivable. e. Pays $1,890 cash to settle accounts payable. Note: For each account category, indicate the appropriate account name. Enter "N/A" for any account category that is not used for a given transaction. Note: Indicate a decrease in an account category by including a negative sign with the amount. Balance Sheet Liabilities Transaction Income Statement Expenses Cash Asset Noncash Assets Contrib. Capital + Earned Capital Revenues = Net Incom a. = . b. A A C. = - d. A A A e. . Accounts payable Accounts receivable Cash Cost of sales Interest expense Interest revenue Inventory Retained earnings Sales N/A Previous Save Answers Next