# Question

Brenda Bailey’s Textiles, Inc., uses a perpetual inventory system. Enter the following transaction into the accounting equation:

In February, Brenda Bailey’s sold $500,000 of merchandise on account with terms 2/10, n/30. The cost of the merchandise sold was $230,000.

In February, Brenda Bailey’s sold $500,000 of merchandise on account with terms 2/10, n/30. The cost of the merchandise sold was $230,000.

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