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How would a sale of $400 of inventory on credit affect the balance sheet if the cost of the inventory sold was $160? a. it would increase noncash assets by $400 and increase equity by $400 b. it would decrease noncash assets by $160 and decrease equity by $160 c. it would increase cash by $400 and increase equity by $400 d. both a and b, above happen simultaneously e. none of the above
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How would a sale of $400 of inventory on credit affect the balance sheet if the cost of the inventor...
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