Moving to another question will save this response. Question 2 When inventory is bought using the periodic system, the following will occur in the accounting equation if it was purchased on credit. O Assets increase, and liabilities decrease O Assets increase, and liabilities increase O Owners' equity increase and liabilities increase O Owners' equity decrease, and liabilities increase O Assets decrease, owners' equity increase A Moving to another question will save this response. O Type here to search Desk O i C Moving to another question will save this response. Question 2 When inventory is bought using the periodic system, the following will occur in the accounting equation if it was purchased on credit. O Assets increase, and liabilities decrease O Assets increase, and liabilities increase O Owners' equity increase and liabilities increase O Owners' equity decrease, and liabilities increase O Assets decrease, owners' equity increase A Moving to another question will save this response. O Type here to search Desk O i C