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ADDITIONAL PROBLEM: Farm & Fleet purchases $35,000 of inventory. They decide not to pay until the end of the credit period. What is the transaction

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ADDITIONAL PROBLEM: Farm & Fleet purchases $35,000 of inventory. They decide not to pay until the end of the credit period. What is the transaction analysis, journal entry, and effect on the accounting equation? Transaction Analysis: Journal Entry Effect on the Accounting Equation: *Now, what would the transaction analysis be when Farm & Fleet PAYS off their credit

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