Mar. 3 The company made credit purchases of office equipment for $3000 and office supplies for $1,200 payment is due within 10 days.

the event ____ net income because ______. the event _____ total assets. the event _____ total liabilities. the event _____ equity because _____.

possible answers from drop down box:

has no effect on

increases

decreases

no income statement accounts were affected

The revenue increases

The revenue decreases

The expenses increase

The Expenses decrease

It is an owners contribution

Net income decreases

Net income

It is a distribution