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Sandy Bay Merchandising Co. sold for $12,000 cash inventory that had cost $10,000. Assuming Sandy...

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Accounting

Sandy Bay Merchandising Co. sold for $12,000 cash inventory that had cost $10,000. Assuming Sandy Bay uses the perpetual inventory method, the entries to record this transaction woulda.decrease equity by $10,000.b.increase assets by $2,000.c.increase net income by $12,000.d.increases expenses by $2,000.

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