The Confiture Factory in central Adelaide buys sculptures, flatware and jewellery from a number of private artists

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The Confiture Factory in central Adelaide buys sculptures, flatware and jewellery from a number of private artists around the country. The Confiture Factory always purchases the products from the suppliers on the terms EXW (place of seller’s business) and usually sells to customers on the basis of cash over the counter. Assume the use of a periodic inventory system and ignore GST.

The following events occurred in the first week of November 2020 for the Confiture Factory.

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Record the transactions in the general journal of the Confiture Factory.

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Financial Accounting

ISBN: 9780730363217

10th Edition

Authors: John Hoggett, John Medlin, Keryn Chalmers, Claire Beattie, Andreas Hellmann, Jodie Maxfield

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