E5-14 On January 1,2008, Rachael Ray Corporation had merchandise inventory of $50,000. At December 31,2008, Rachael Ray

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E5-14 On January 1,2008, Rachael Ray Corporation had merchandise inventory of $50,000.

At December 31,2008, Rachael Ray had the following account balances.

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Muhammad Salman Alvi

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