Question
A sale of inventory on account affects which accounts on the seller's books? Question 3 options: a) Sales and accounts payable both increase, and cost
A sale of inventory on account affects which accounts on the seller's books?
Question 3 options:
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| a) | Sales and accounts payable both increase, and cost of goods sold and inventory both decrease |
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| b) | Sales, accounts payable, and cost of goods sold all increase, and inventory decreases |
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| c) | Sales and accounts receivable both increase, and cost of goods sold and inventory both decrease |
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| d) | Sales and cash both increase, and cost of goods sold and inventory both decrease |
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| e) | Sales, cash, and cost of goods sold all increase, and inventory decreases |
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| f) | Sales, accounts receivable, and cost of goods sold all increase, and inventory decreases |
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