Identify the impact(s) of the following event on the accounting equation from the named company's point of view by checkingall applicable responsesfor the transaction (markat least2 responses for each transaction, unless the correct response is "No entry"):

Event:Macy's buys inventory on account

Check All That Apply

• Assets UP
• Assets UP
• Assets DOWN
• Assets DOWN
• Liabilities UP
• Liabilities UP
• Liabilities DOWN
• Liabilities DOWN
• Equity UP
• Equity UP
• Equity DOWN
• Equity DOWN
• No entry
• No entry