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1) Tariffs are a tax that increase the price that a company has to pay to get a product. Accounting includes the tariff in the

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1) Tariffs are a tax that increase the price that a company has to pay to get a product. Accounting includes the tariff in the balance of inventory. Propose a journal entry for a retail firm that orders $100 of clothing that is subject to a 15% tariff on account

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