Your company acquires raw materials inventory on account. The vendor expects you to make a full payment in 30 days. Select the correct impact on your financial statements on the date of purchase: Increase in assets only. Increase in assets and liabilities Increase in liabilities only. Increase in liabilities and a decrease in assets. Decrease in liabilities and a decrease in assets. Increase in equity only. Your company acquires raw materials inventory on account. The vendor expects payment in 30 days. It is 30 days later and you are now wiring the money to pay the vendor. Select the correct impact on your financial statements after you wire the amount due to the vendor. Increase in assets only. O Increase in assets and liabilities Increase in liabilities only. O Increase in liabilities and a decrease in assets. Decrease in liabilities and a decrease in assets. Increase in equity only.