Multiple Choice
Faust Company uses the perpetual inventory method.Faust sold goods that cost $2,300 for $3,600.If the sale was made on account,the net effect of the sale will:
A) increase total assets by $2,300.
B) increase total equity by $3,600.
C) increase total assets by $1,300.
D) increase total assets by $3,600.
Correct Answer:
Verified
Correct Answer:
Verified
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