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On July 15, Gunderson Company sold and shipped merchandise on account for $6,000 to a...

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Question

Accounting

On July 15, Gunderson Company sold and shipped merchandise on account for $6,000 to a customer, terms FOB shipping point, n/30. Gunderson's cost of goods sold is 40% of sales. How is Gunderson impacted by this sale on July 15?

A.

Its assets will remain the same, while its equity increases.

B.

Its assets will increase, while its equity remains the same.

C.

Its assets will increase, as will its equity.

D.

Its assets will remain the same, while its equity decreases

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