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##A company has the following transactions: Purchases inventory on credit for $ 1 0 , 0 0 0 . Sells $ 5 , 0 0

##A company has the following transactions:
Purchases inventory on credit for $10,000.
Sells $5,000 of the inventory for $8,000 cash.
Prepare the journal entries and indicate how each transaction impacts the income statement and balance sheet.f

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