"Shaw Ltd. sold goods to a customer for $36,000 on account. The customer is to...
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Accounting
"Shaw Ltd. sold goods to a customer for $36,000 on account. The customer is to pay the balance due in 30 days. The goods sold had cost $24,000. Which of the following correctly describes the effect of this sale on Shaw s accounting equation?"
Question 2 options:
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"increase assets $12,000, increase liabilities $36,000, increase owner s equity $24,000"
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"increase assets $36,000, increase liabilities $36,000, no effect on owner s equity"
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"increase assets $36,000, no effect on liabilities, increase owner s equity $36,000"
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"increase assets $12,000, no effect on liabilities, increase owner s equity $12,000"
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