Examine the financial statements effects template below. Then select the answer that best describes the transaction. Income Statement Balance Sheet Net Rev- Expen- Cash Noncash Transaction + Asset Assets Liabil- Contrib. Earned + + ities Capital = ses Capital enues Income ?? -96 +480 = +384 Record accounts receivable of $480 and cash collected of $96 Purchase $480 of equipment on account 00012 Purchase inventory of $480 partially on account Repay accounts payable of $96, net