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Over/Under : Alpha recorded a credit sale to one of its customers with terms FOB Shipping Point. As of year-end, the merchandise had been shipped
Over/Under: Alpha recorded a credit sale to one of its customers with terms FOB Shipping Point. As of year-end, the merchandise had been shipped but not received by the customer. The merchandise was not counted (included) in Alpha's ending inventory. Alpha uses the periodic inventory system. What effect does this have on assets, liabilities, and net income?
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