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Kindly answer the following accounting chart correctly according to the perpetual system The Only Shirt Whoiesulers spent $12,800 to purchase 1,000 shirts from a shirt
Kindly answer the following accounting chart correctly according to the perpetual system
The Only Shirt Whoiesulers spent $12,800 to purchase 1,000 shirts from a shirt manufacturer as inventory. Hip Hop Retailers paid $17,800 for the 1,000 shits from The Only Shirt Wholesalers on September 19, 2022. Payment is due on April 15. Both companies use the perpetual inventoly system. Do not enter dollar signs or commas in the input boxes. Required a) Prepare the journal entry for Hip Hop Retallers on September 19. b) Prepare the journal entries for The Only Shirt Wholosalers on September 19 . Record the revenue transaction first Step by Step Solution
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