On December 1, Kmet Inc. sold $4,500 of material to a customer with terms 2/10, n/30. The customer paid half the balance within the discount period and took the discount. The customer paid the remaining balance on December 30. If Kmet uses the gross method to account for cash discounts, what effect does the entry on 12/30 have on the accounting equation? Reduce stockholders' equity Increase assets No effect Reduce liabilities If Kmet uses the net method to account for cash discounts, what effect does the entry on 12/30 have on the accounting equation? Reduce liabilities Reduce stockholders' equity No Effect Increase assets