In preparation for the arrival of the gaming simulator systems, Lenova Digital have been informed that their staff members need to be trained on how to build the systems and integrate software. The training is estimated to cost $10,000. Lenova Digital have told you that they are considering making the payment either by using cash or the company credit card. They will be making the purchase on August 2, 2023 and training is expected to occur on September 1, 2023. The credit card would be required to be paid on September 15, 2023.

a. Provide Lenova Digital with a comparison of the effects that the use of cash versus a credit card has on total assets, liabilities, equity and the cash flows of the business for August 2, 2023. Note no calculations are required. Word limit: a total of 200 words. Any response beyond the word limit will not be marked.

b. Identify and briefly explain one (1) other form of payment method that Lenova Digital may be able to use to pay for the training. Word limit: a total of 50 words. Any response beyond the word limit will not be marked.

c. Provide advice on which method Lenova Digital should use to make the purchase by drawing on the answers you provided in part a and b. When advising Lenova Digital about your decision, include reference to the company's current financial situation shown in the worksheet that you prepared in question 10 to 14. Word limit: a total of 150 words. Any response beyond the word limit will not be marked.