Question: a. Provided service for cash Assets = Liabilities + Owners Equity Does Assets increase or decrease or no change Does Liabilities increase or decrease or

a. Provided service for cash 

Assets = Liabilities + Owners Equity 

Does Assets increase or decrease or no change 

Does Liabilities increase or decrease or no change 

Does Owners Equity increase decrease or no change?

b. Please describe how the following transaction affects the accounting equation: 

Purchase inventory for Cash. 

Assets = Liabilities + Owners Equity 

Does Assets increase or decrease or no change 

Does Liabilities increase or decrease or no change 

Does Owners Equity increase decrease or no change?

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