Question

Determine the effect on the balance sheet after the following transaction.

You sell a product purchased for $750 for $1,500.00. This means:

Answer 1

This Means: Cash increases by $750?


Your Choices BTW:
-Cash increases by $750
-Cash decreases by $750
-Owner’s equity increases by $750
-Owner’s equity decreases by $750

Answer 2

Owner's equity increases by $1000

Explanation:

Determine the effect on the balance sheet after the following transaction.You sell a product purchased for $500 for $1,500.00. This means:??????