Ransom Co.sold merchandise to a customer for $1,000 on account.Ransom's cost of the merchandise was $800.Show how the transaction would affect Ransom's financial statements.

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The Answer of Ransom Co.sold merchandise to a customer for $1,000 on account.Ransom's cost of the merchandise was $800.Show how the transaction would affect Ransom's financial statements.

Ransom CoSold Merchandise to a Customer for $1,000 on Account