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1. What are the transactions in a merchandising entity that may not occur in a service firm? What are the in 10accounts used in recording

1. What are the transactions in a merchandising entity that may not occur in a service firm? What are the in 10accounts used in recording these transactions?

2. In recording the business transactions of a merchandising entity, Is there any difference in the procedures to be followed from that of a service entity? Explain.

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