Question: Echo, Inc. sold inventory they purchased for $ 8 0 to a customer for $ 1 6 5 on credit. What is the impact of

Echo, Inc. sold inventory they purchased for $80 to a customer for $165 on credit. What is the impact of this transaction?
Question 27 options:
Current assets decrease by $80
Current assets increase by $85
Liabilities decrease by $80
Retained earnings increase by $165

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