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FOLLOWING DEBIT AND CREDIT ENTRIES, ANSWER THE QUESTIONS BELOW: ASSETS CASH $0 INVENTORY $2500 LIABILITIES ACCOUNTS PAYABLE $0 EQUITY $2500 EXPENSE INCOME

FOLLOWING DEBIT AND CREDIT ENTRIES, ANSWER THE QUESTIONS BELOW:


.A LAPTOP RETAILER HAS 5 LAPTOPS IN HIS STORED BOUGHT EACH LAPTOP FOR \( \$ 500 \). SO ALL LAPTOPS ARE WORTH \$2,500!

ASSETS 
CASH$0
INVENTORY$2500
LIABILITIES 
ACCOUNTS PAYABLE$0
EQUITY$2500

 

EXPENSEINCOME

$0

 

$0

\begin{tabular}{|l|l|} \hline \multicolumn{2}{|c|}{ T ACCOUNT OF CASH } \\ \hline DEBIT & CREDIT \\ \hline & \\ \hline JAN 2N


OUR BALANCE SHEET AND INCOME STATEMENT AFTER 1 WEEKD. AFTER 1 WEEKDI CLOSE MY ACCOUNTS.. I TRANSFER THE PROFIT I EARNED TO TH

TRANSACTIONS OF A RETAILERO ..A LAPTOP RETAILER HAS 5 LAPTOPS IN HIS STORED BOUGHT EACH LAPTOP FOR $500. SO ALL LAPTOPS ARE WORTH $2,5000

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