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Exercise 6-1 This information relates to Carla Vista Co.. 1. On April 5, purchased merchandise from Wildhorse Company for $28,200 on account. 2. On April
Exercise 6-1 This information relates to Carla Vista Co.. 1. On April 5, purchased merchandise from Wildhorse Company for $28,200 on account. 2. On April 7, purchased equipment on account for $33,200. 3. On April 8, returned $3,800 of April 5 merchandise to Wildhorse Company. 4. On April 15, paid the amount due to Wildhorse Company in full. Prepare a tabular summary to record the transactions listed above for Rice Co. 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 + Stockholders' Equity Retained Earnings Accts. Pay. + Common Stock + Rev. Exp. Cash + Inv. + Equipment = April 5 u
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