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Assessment 1 Amarillo Company experienced the following events... Amarillo Company experienced the following events during its first accounting period (1) Purchased $5,000 of inventory on
Assessment 1 Amarillo Company experienced the following events... Amarillo Company experienced the following events during its first accounting period (1) Purchased $5,000 of inventory on account (2) Returned $50 of the inventory purchased in Event 1 (3) Sold the inventory for $6.000 cash, Based on this information, which of the following shows how the recognition of the return will affect the company's financial statements
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