X Company prepares monthly financial statements. On September 6, its accountant made an entry that resulted in a $60,000 increase in Cash and a $60,000 decrease in Accounts Receivable. Which of the following transactions is consistent with this entry? X Company sold merchandise to customers on account for $60,000. received $60,000 from a customer who had previously bought merchandise on account. pald $60,000 to a supplier from whom the firm had previously bought merchandise on account. received $60,000 from a customer who bought merchandise with cash. received $60,000 from a new Investor borrowed $60,000 from a bank and signed a note. OOOO Submit Answer: Tries 0/99 On January 1, the balance in the Equipment account was $19,750; on December 31, the balance was $15,324. The Income Statement reports Depreciation Expense of $1,856. During the year, $2,817 of equipment was purchased. What was the cost of the equipment sold during the year? A: 1765.2122 B: 2206.5152 C: 2758.1440 D: 3447.6800 E: 4309.6000 F: 5387 In January, X Company purchased some equipment with $100,000 that it borrowed from a local bank. The accountant recorded the transaction as an increase in Inventories and an increase in Accounts Payable. As a result, on the January balance sheet, Accounts Payable was understated, Total liabilities were understated. Total assets were understated. Retained Earnings was overstated. Cash was understated Inventories were overstated. BOOOO