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Bridget Corporation purchased inventory costing $ 150 comma 000 and sold 70% of the goods for $ 185 comma 000. All purchases and sales were
Bridget Corporation purchased inventory costing $ 150 comma 000 and sold 70% of the goods for $ 185 comma 000. All purchases and sales were on account. Bridget later collected 25% of the accounts receivable. Assume that sales returns are nonexistent.or these transactions, show what Bridget will report for inventory, revenues, and expenses on its financial statements at the end of the month. Report gross profit on the appropriate statement. Assume beginning inventory is $0. (If an input field is not used in the table leave the field empty; do not enter a label or enter a zero.) Determine what the company will report on the balance sheet: Balance Sheet
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