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Culver Company buys merchandise on account from Pronghorn Company for $650. Culver sells the goods to Ellis for $1,385 cash. Use a tabular summary to

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Culver Company buys merchandise on account from Pronghorn Company for $650. Culver sells the goods to Ellis for $1,385 cash. Use a tabular summary to record the transactions for Culver Company using a perpetual inventory system. (Enter negative amounts using either a negative sign preceding the number e.g. -45 or parentheses e.g. (45).) Assets Liabilities + Stockholc Accts. Common Cash Inv. Pay. Stock F + = + + Stockholders' Equity Common Retained Earnings Stock Rev. Exp. +

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