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2. You have entered a purchase order into Quickbooks for a $1,000 to purchase inventory. Which of the following accounts are affected? a. Inventory Account
2. You have entered a purchase order into Quickbooks for a $1,000 to purchase inventory. Which of the following accounts are affected? a. Inventory Account is increased by a $1,000 and Chequing Account is decreased by $1,000. b. Inventory Account is decreased by a $1,000 and Chequing Account is increased by $1,000. c. Inventory Expense is increased by a $1,000 and Cost of Goods Sold Account is increased by $1,000. d. Inventory Expense is increased by a $1,000 and Cost of Goods Sold Account is decreased by $1,000. e. None of the above
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