Purchase-Related Transactions The following selected transactions were completed by SUP Co, during August of the current year: Illustrate the effects of each of the transactions on the accounts and financial statements of SUP Co. If no account or activity is affected, select "No effect" from the dropdown list and leave the corresponding number entry box blank. Enter account decreases, cash outflows, and the income statement effects that reduce net income as negative amounts. Aug. 3. Purchased merchandise on account for $16,700, terms FOB destination, n/30