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Bali Sales Company experienced the following events: Purchased merchandise inventory for cash. Purchased merchandise inventory on account. Returned merchandise purchased on account. Sold merchandise inventory
Bali Sales Company experienced the following events:
Purchased merchandise inventory for cash.
Purchased merchandise inventory on account.
Returned merchandise purchased on account.
Sold merchandise inventory for cash.
Paid cash on accounts payable not within the discount period.
Sold merchandise inventory on account.
Paid cash for selling and administrative expenses.
Paid cash for transportationin
Collected cash from accounts receivable.
Paid cash for transportationout.
Required
Identify each event as asset source AS asset use AU asset exchange AE or claims exchange CE Also, explain how each event affects the financial statements by placing for increase, for decrease, or for increases and decreases under each of the components in the following statements model. Also in the Statement of Cash Flows column, use the letters OA to designate operating activity, IA for investing activity, and FA for financing activity. As
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