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How would a sale of $400 of inventory on credit affect the balance sheet if the cost of the inventory sold was $160? A. It would increase noncash assets by $400 and increase equity by $400 B. It would decrease noncash assets by $160 and decrease equity by $160 C. It would increase cash by $400 and increase equity by $400 D. Both A and B, above happen simultaneously E. None of the above

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