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2. Prepare all the journal entries using the backflush accounting. Assume two trigger points (1) the purchase of raw materials and (2) the completion of
2. Prepare all the journal entries using the backflush accounting. Assume two trigger points (1) the purchase of raw materials and (2) the completion of goods as the second trigger point. | |||||||||
3. Redo all the journal entries using the backflush accounting, but assume the second trigger point is the sales of goods. | |||||||||
4. Redo all the journal entries using the backflush accounting, but assume there is one trigger point and that trigger point is sales of goods. | |||||||||
5. Explain why a company would use the backflush approach in #4 where there is only one trigger point. |
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