Synthetic Resins Co purchased $30,000 of inventory, paying $6,000 in cash and the remaining amount on credit. Please specify the transaction's effect using the Financial Statement Effects Template. You can spell out the effect (number) for cell (1), (2), .., to (8).

Balance Sheet

Income Statement

Cash Asset

+

Noncash Assets

=

Liabilities

+

Contrib. Capital

+

Earned Capital

Revenue

-

Expenses

=

Net Income

(1)

(2)

(3)

(4)

(5)

(6)

(7)

(8)