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Account Titles and Explanation Inventory of Premiums Cash (To record the premium inventory.) Cash Sales Revenue (To record the sales.) Cash Premium Expense Inventory of
Account Titles and Explanation Inventory of Premiums Cash (To record the premium inventory.) Cash Sales Revenue (To record the sales.) Cash Premium Expense Inventory of Premiums (To record the expense associated with the sale.) Premium Expense Premium Liability 2020 Debit 990000 793020 726000 66000 15950 Credit 990000 793020 792000 15950 Inventory of Premiums Cash (To record the premium inventory.) Cash Sales Revenue (To record the sales.) Cash Premium Liability Premium Expense Inventory of Premiums (To record the expense associated with the sale.) Premium Expense Premium Liability (To record the premium liability.) 2021 1306800 875610 907500 15950 66550 19250 1306800 875610 990000 19250 Account Inventory of Premiums Premium Liability Premium Expense LA 2020 Amount 2021 Classification Current Asset Current Liability Selling Expense
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Financial Statements Self Study Guide
Authors: Azhar Ul Haque Sario
1st Edition
979-8223894605
