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Type: Multiple-Choice
Category: Accounting
Grade: College
Score: 1
Author: LyndonGibson
Last Modified: 2 weeks ago

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  • If you sell an item on credit, what four accounts are affected?
    1. accounts payable,cash, inventory, and cost of sales
    2. accounts payable, sales, inventory, and cost of sales
    3. accounts receivable, sales, inventory, and cost of sales
    4. accounts receivable, cash, inventory, and cost of sales