Business

11 July, 09:18

McPherson Company sold goods to a customer at a sales price of $1,000. In addition, an additional $50 for sales tax was collected, for a total amount of cash received from the customer of $1,050.

Due to this transaction, which of the following is true?

Expenses will increase $50

Net income will increase $1,050

Total liabilities will increase $1,050

Total assets will increase $1,050

Revenue will increase $1,050

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