Which of the following is one effect on a purchase of supplies on account for $7,000?

	a.	It would increase liabilities by $7,000
	b.	It would increase retained earnings by $7,000
	c.	It would decrease liabilities by $7,000
	d.	Decrease cash by $7,000

Which of the following is a not a liability on the balance sheet?

	a.	Long-term debt
	b.	Salaries payable
	c.	Prepaid expenses
	d.	Unearned revenue