A sale of inventory on account affects which accounts on the seller's books? Select one: a.Sales, cash,
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Question:
A sale of inventory on account affects which accounts on the seller's books?
Select one:
a.Sales, cash, and cost of goods sold all increase, and inventory decreases.
b.Sales and cash both increase, and cost of goods sold and inventory both decrease.
c.Sales, accounts receivable, and cost of goods sold all increase, and inventory decreases.
d.Sales, accounts payable, and cost of goods sold all increase, and inventory decreases.
e.Sales and accounts receivable both increase, and cost of goods sold and inventory both decrease.
f.Sales and accounts payable both increase, and cost of goods sold and inventory both decrease.
Related Book For
Accounting Principles
ISBN: 9781118566671
11th Edition
Authors: Jerry Weygandt, Paul Kimmel, Donald Kieso
Posted Date: