S6-1. (Learning Objective 2: Accounting for inventory transactions) Journalize the following assumed transactions for The Debson Company.

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S6-1. (Learning Objective 2: Accounting for inventory transactions) Journalize the following assumed transactions for The Debson Company. Show amounts in millions.

a. Cash purchases of inventory, $3.6 million

b. Sales on account, $19.5 million

c. Cost of goods sold (perpetual inventory system), $4.8 million

d. Collections on account, $19.1 million

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Financial Accounting International Financial Reporting Standards Global Edition

ISBN: 9781292211145

11th Edition

Authors: Charles T. Horngren, C. William Thomas, Wendy M. Tietz, Themin Suwardy, Walter T. Harrison

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Question Posted: Jul 25, 2024 12:00 PM

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S6-1. (Learning Objective 2: Accounting for inventory transactions) Journalize the following assumed transactions for The Debson Company.

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Financial Accounting International Financial Reporting Standards Global Edition

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