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Firm purchases materials for $200 for cash--entries to reflect this: Inventory down $200; Accounts receivable up $200 Inventory up $200; Cash down $200 Inventory up
Firm purchases materials for $200 for cash--entries to reflect this: Inventory down $200; Accounts receivable up $200 Inventory up $200; Cash down $200 Inventory up $200; Accounts payable up $200 Inventory up $200; owners equity up $200
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