Purchese Discounts whock The folowing are transactions of Taman Enterprises dentify and analyze each of the following transactions of Tarrapin Enterprises (All purchases on credit are made with of 1/10, 30, and July 31 Purchased merchandise on credit from Bujay, Inc. for $4,800 Activity Accounts Operating v Account Paxable Increase Purchases Increase Balance Sheet and Income Statement How does this entry affect the accounting equation? If a financial statement item is not affected, select "Nu Entry and leave the amount box blank or anter of the effect is negative, use the sign Balance Sheet Assets Liabilities No Entry Accounts Payable 4.800 Stockholders Equity -4,800 X Revenues No Entry pedic system of inventory) Income Statement Dirshest 4,000 X