Examine the financial statements effects template below. Then select the answer that best describes the transaction. Balance Sheet Cash Asset + Noncash Assets = Liabilities + Contrib. Capital + Earned Capital Revenues Income Statement - Expenses = Net Income (300) 300 = Select one: O a. Purchase inventory of $300 on account b. Collect cash for accounts receivable of $300 c. Purchase inventory of $300 for cash d. Repay accounts payable of $300 with cash e. None of these are correct.