Cap & Trade, Inc., sold 300 baseball caps that cost $6 each to customers for $3,000...

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Cap & Trade, Inc., sold 300 baseball caps that cost $6 each to customers for $3,000 cash. Show the effect of this transaction on total Assets, Liabilities, Stock and/or Retained Earnings and the account titles. If no effect, select "$0 No Effect". G. Assets A. $0 No Effect B. $(1,800) Cost of Goods Sold C. $(1,800) Inventory D. $3,000 Cash Liabilities Stock Retained Earnings E. $3,000 Sales Revenue. F. $3,000 Cash; $(1,800) Inventory G. $3,000 Sales Revenue; $(1,800) Cost of Goods Sold H. $(3,000) Sales Revenue; $1,800 Cost of Goods Sold Cap & Trade, Inc., sold 300 baseball caps that cost $6 each to customers for $3,000 cash. Show the effect of this transaction on total Assets, Liabilities, Stock and/or Retained Earnings and the account titles. If no effect, select "$0 No Effect". G. Assets A. $0 No Effect B. $(1,800) Cost of Goods Sold C. $(1,800) Inventory D. $3,000 Cash Liabilities Stock Retained Earnings E. $3,000 Sales Revenue. F. $3,000 Cash; $(1,800) Inventory G. $3,000 Sales Revenue; $(1,800) Cost of Goods Sold H. $(3,000) Sales Revenue; $1,800 Cost of Goods Sold

Answer rating: 100% (QA)

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