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Cosmo Corporation, which uses a perpetual inventory system, sells $2,000 of merchandise on July 5 on account. When Cosmo records the sale, one effect will

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Cosmo Corporation, which uses a perpetual inventory system, sells $2,000 of merchandise on July 5 on account. When Cosmo records the sale, one effect will be to O decrease Accounts Payable. increase Accounts Receivable. O decrease Cost of Goods Sold. increase Cash

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