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Faust Company uses the perpetual inventory method. Faust sold goods that cost $4,800 for $7,600. If the sale was made on account, the net effect

Faust Company uses the perpetual inventory method. Faust sold goods that cost $4,800 for $7,600. If the sale was made on account, the net effect of the sale will: Multiple Choice increase total assets by $7,600. decrease total assets by $4,800. increase total assets by $2,800. increase total equity by $7,600

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