=+EX 6-35 Rules of debit and credit for periodic inventory accounts The following selected transactions were completed

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=+EX 6-35 Rules of debit and credit for periodic inventory accounts The following selected transactions were completed by Artic Company during February of the current year. Artic Company uses the periodic inventory system.

Feb. 2. Purchased $17,500 of merchandise on account, FOB shipping point, terms 2/15, n/30.

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Accounting

ISBN: 978-1111001346

23rd Edition

Authors: Carl S. Warren

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