The training is estimated to cost $10,000. Lenova Digital have told you that they are considering making the payment either by using cash or the company credit card. They will be making the purchase on August 2, 2023 and training is expected to occur on September 1, 2023. The credit card would be required to be paid on September 15, 2023.

Question: Provide Lenova Digital with a comparison of the effects that the use of cash versus a credit card has on total assets, liabilities, equity and the cash flows of the business for August 2, 2023. Note no calculations are required.