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Identify the effects of the following transactions in the table below Balance Sheet Income Statement Contrib Capital Net Cash Noncash Earned Transaction Liabilities Revenues Expenses
Identify the effects of the following transactions in the table below Balance Sheet Income Statement Contrib Capital Net Cash Noncash Earned Transaction Liabilities Revenues Expenses = = Asset Capital Assets Income (1) $600 of employee wages are earned but not yet paid (2) $3,000 of inventory is purchased on credit (3) Sold goods for $1,500 on count (4) Record $700 for the cost of inventory sold in (3) above (5) Collected $1,000 cash from transaction (3) above
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