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For example: -10234.35
No other characters, including commas, are accepted.
What is the double entry for this transaction?
If net assets at the beginning of 20X9 were $87,700, what were the closing net assets?
Which of the following journal entries would correctly record this?
A. Sales account
B. Inventory account
C. Drawings account
D. Drawings account
Cost of sales
Bob has not yet recorded the following items:
After these amounts are recorded, what are the revised values for gross and net profit of Bob’s business?
(1) An amount of $650 was received from a credit customer.(2) Elaine withdrew $50 per week to cover the insurance.(3) Bankings of $1,500 from canteen vending machines.(4) A customer paid for goods with a list price of $900, trade discount of 5% given at the time of sales.
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