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Describe every accounting impact from the following figure (write using a numbered list) Bank Inventory (Trading goods) Debit Credit 0 $7,500 GR/IR Debit Credit $7,500

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Describe every accounting impact from the following figure (write using a numbered list) Bank Inventory (Trading goods) Debit Credit 0 $7,500 GR/IR Debit Credit $7,500 $7,500 Debit Credit Debit Vendor Credit $7,500 2 Accounts payable reconciliation Debit Credit $7,500 2 Goods receipt Invoice verification

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