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Help. Problem 7-2A Reineke Company's chart of accounts includes the following selected accounts 101 Cash 120 Inventory 130 Prepaid Insurance 505 Cost of Goods Sold
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Problem 7-2A Reineke Company's chart of accounts includes the following selected accounts 101 Cash 120 Inventory 130 Prepaid Insurance 505 Cost of Goods Sold 157 Equipment 201 Accounts Payable 06 Owner's Drawings On October 1, the accouets payable ledger of Reineke Company showed the foitowing balances: Uggla Company $3,200, Orr Co. $3,000, Rosenthal Co. $1,700, and Clevenger Company $4,200. The October transactions invelving the payment of cash were as follows Purchased merchandise, check no. 63, $220 3 Purchased equipment, check no. 64, $740 5 Paid Uggla Company balance due of $3,200, less 2% unt, check no. 65, s 3.136. 10 Purchased merchandise, check no. 66, $2,550 15 Paid Rosenthal Co, balance due of $1,700, check no. 67 16 C. Reinekn, the owner, pays his personal insurance premium of $400, check no. 68. 19 Paid Or Co. in full for ivoice no. 610$2,100 less 2% cash dscourt, check no. 6$2,058 29 Paid Clevenger Company in full tdh invoice no. 264, $2.600, check no. 70 Oct.1 merchandise, check no Step by Step Solution
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