Betty Bailey's Textiles Inc., accounting equation help

Betty Bailey's Textiles Inc., uses a perpetual inventory system. Enter the followingtransaction into the accounting equation:In​ February, Betty Bailey's sold $550,000 of merchandise onaccount with terms 3/10, n/30. The cost of the merchandise sold was$240,000.Enter the transactioninto the accounting equation. Some of the accounts will be abbreviated. (Use parentheses or a minus sign when entering componentdecreases. Use only the necessary input lines.)