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Florist Gump, Inc., uses the FIFO method and had the following inventory activity for June: Record the entry for the sale of inventory on account
Florist Gump, Inc., uses the FIFO method and had the following inventory activity for June: Record the entry for the sale of inventory on account for June 25. Be sure to answer each; if no effect, select "0 No Effect". Assets Liabilities Shareholders' Equity A. Debit Sales and Credit Cost of Goods Sold B. Debit Accounts Receivable and Credit Inventory C. Credit Cash D. No Effect E. Debit Accounts Payable and Credit Inventory F. Debit Accounts Receivable and Debit Inventory G. Credit Sales and Debit Cost of Goods Sold H. Credit Accounts Receivable and Debit Sales
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