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6 July, 09:05

Determine the effect on the balance sheet after the following transaction. You sell a product purchased for $500 for $1500. This means

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  1. 6 July, 09:12
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    You gained $1000 dollars from over pricing an item. Therefore you made profit which the sum was $1000.
  2. 6 July, 09:31
    0
    You have made a profit of 300% (500=100% therefore 500*3=1500 = 300%)

    You have also made £1000 profit
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