What is the impact of purchase on the expanded accounting

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Reference no: EM132817725

Problem 1: Echo, Inc. purchases supplies on credit that it will use over the next 6 months. What is the impact of this purchase on the expanded accounting equation?

Option 1: Increase net assets or equity

Option 2: Increase revenue

Option 3: Increase long term assets

Option 4: Increase current liabilities

Reference no: EM132817725

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