Answer :
The total assets should be off by $0.
- The journal entry for recording the sale made in cash is
Cash Dr $1,000
To Sales $1,000
(Being sale is made in cash is recorded)
Here the cash is debited as it increased the assets and the sale is credited as the sales are also increased.
- But as per the question, the journal entry is
Sales $1,000 Dr
To Cash $1,000
(Being sale is made in cash is recorded)
Therefore we can conclude that The total assets should be off by $0.
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