Faust Company uses the perpetual inventory method. Faust sold goods that cost $6,100 for $10,200. If the
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Question:
Faust Company uses the perpetual inventory method. Faust sold goods that cost $6,100 for $10,200. If the sale was made on account, the net effect of the sale will:
Multiple Choice
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increase total assets by $4,100.
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increase total stockholders equity by $10,200.
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increase total assets by $10,200.
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increase total assets by $6,100.
Expert Answer:
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