QUESTION $1$

Merchandise has been sold for $$1,000$ cash. The merchandise had been acquired at a cost of $$600.$ For this transaction, which of

the following is not the resulting effect?

A$.$ Net increase of assets by $$1,000.$

B$.$ Decrease of Merchandise by $$600.$

C$.$ Increase of Cost of goods sold by $$1,000.$

D$.$ Increase of Revenue by $$1,000.$