X A company buys inventory for $1,000. What is the impact to the accounting cycle A An asset is increased and an asset is decreased B An asset is increased and equity is decreased An asset is increased and equity is increased An asset is increased and a liability is increased E There is no impact to the accounting equation Question 2 A company buys inventory for $1,000. What is the journal entry? A debit inventory, credit cash B debit cash, credit inventory debit inventory, credit common stock There is no journal entry