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In a perpetual inventory accounting system do you use amounts from previous month's post-closing trial balance when preparing the worksheet for the current month's worksheet?
In a perpetual inventory accounting system do you use amounts from previous month's post-closing trial balance when preparing the worksheet for the current month's worksheet?
Say the final cash amount from previous month was $5000 and the final cash amount for your current month was $3000, would you put the cumulative amount of $8000 on the current month's worksheet, or just the $3000?
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