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A customer paid Cash of $150 for goods which, cost $100. The clerk who recorded the cash and carry sale posted the transaction as follows:
A customer paid Cash of $150 for goods which, cost $100. The clerk who recorded the "cash and carry" sale posted the transaction as follows: Debit Credit Sales $150 Cash $100 Cost of Goods Sold $100 Inventory $150 Although total debits equal total credits, what should this entry have looked like?
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