Stark Enterprises sold products to customers for $30,000. The products originally cost $20,000. Stark did not record

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Stark Enterprises sold products to customers for $30,000. The products originally cost $20,000. Stark did not record any journal entries related to the sale. Which of the following is true?

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None of the answers are correct.

Revenues will be overstated by $30,000.

Income will be overstated by $10,000.

Cost of goods sold will be overstated by $20,000.

Inventory will be overstated by $20,000.

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Entrepreneurial Finance

ISBN: 978-0538478151

4th edition

Authors: J . chris leach, Ronald w. melicher

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Posted Date: Jan 29, 2024 11:14 PM

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Stark Enterprises sold products to customers for $30,000. The products originally cost $20,000. Stark did not record

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