Your answer True False If a company purchases $2,000 of supplies on account, it will increase the Accounts Receivables by $2,000 and increase Asset (Supplies) by $2,000* 1 point True O False 1 point Monetary unit assumption requires that only transaction data capable of being expressed in terms of money be included in the accounting records True False point Collection of an accounts receivable will increase both cash and accounts receivable. Desktop