Question: 1 TB MC Qu . 0 4 - 1 5 3 ( Static ) Exeter Company sold merchandise for... Exeter Company sold merchandise for $

1 TB MC Qu.04-153(Static) Exeter Company sold merchandise for...
Exeter Company sold merchandise for $10,000 cash. The merchandise had cost the company $4,500. What is the effect of the sale on the balance
1
sheet?
points
04:08:35
Multiple Choice
References
All of these answer choices are correct.
Retained earnings Increases by $5,500.
Cash increases by $10,000.
Inventory decreases by $4,500.
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1 TB MC Qu . 0 4 - 1 5 3 ( Static ) Exeter

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