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Over/Under: Alpha sold merchandise on credit with terms FOB Shipping Point. By the end of the year, the merchandise had not yet been received
Over/Under: Alpha sold merchandise on credit with terms FOB Shipping Point. By the end of the year, the merchandise had not yet been received by the customer. Alpha did not record the sale, and did not include the merchandise in its ending inventory. Alpha uses the perpetual inventory system. This has what effect on assets, liabilities, and net income? Assets: [Select] Liabilities: [Select] Net Income: [Select]
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