12. XYZ Retail sells inventory to a customer on account for $2,000 on 2/20/20 (credit...
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Accounting
12. XYZ Retail sells inventory to a customer on account for $2,000 on 2/20/20 (credit terms 2/10 n/30); the cost of the merchandise sold is $1,200. What effect (if any) does this transaction have on the assets, liabilities, and equity of XYZ Retail
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