The Following Entry Was Recorded in the Books of Brighty

question 100

Multiple Choice

The following entry was recorded in the books of Brighty Company.Mar. 31 Cost of Goods Sold
18,000
Inventory
18,000
Recorded cost of goods sold.​
What is the impact of this entry on the accounting equation?

• A)an increase in Assets and an increase in Equity
• B)an increase in Assets and an increase in Liabilities
• C)a decrease in Assets and a decrease in Liabilities
• D)a decrease in Assets and a decrease in Equity

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