Question
On March 25, Tampico Furniture Inc. sold inventory for $15,500 cash. The inventory cost Tampico Furniture Inc. $9,000. When Tampico Furniture Inc. record this transaction
On March 25, Tampico Furniture Inc. sold inventory for $15,500 cash. The inventory cost Tampico Furniture Inc. $9,000. When Tampico Furniture Inc. record this transaction on March 25, it will: Group of answer choices
a) decrease Inventory $15,500
b) increase Accounts Receivable $15,500
c) increase cash $9,000
d) increase Cost of Goods Sold $9,000
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Accountants Guidebook
Authors: Steven M. Bragg
5th Edition
1642211028, 978-1642211023
