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A company started the year with a normal balance of $81,000 in the Inventory account. During the year, debits totaling $51,500 and credits totaling $68,000
A company started the year with a normal balance of $81,000 in the Inventory account. During the year, debits totaling $51,500 and credits totaling $68,000 were posted to the Inventory account. Which of the following statements about the Inventory account is correct? Multiple Choice The Inventory account is decreased by debits. 0 The debits and credits posted to the Inventory account caused it to decrease by $16,500. 0 The normal balance of the Inventory account is a credit balance
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