QUESTION 2 Great Shave purchased $700 of hair product inventory with cash. What would be the affect of this transaction on the accounting equation? - 700 Cash + 700 Inventory + 700 Cash - 700 Inventory - 700 Accounts Payable + 700 Inventory - 700 Cash 700 Accounts Payable QUESTION 3 Select whether each account has a Debit or Credit Balance B. v Cash v Common Stock Salaries Expense A. Debit v Sales Revenue B. Credit v Inventory Notes Payable