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Mastery Problem: Accounting for Retail Businesses Merchandising Transactions Chapter 0 5 Homework 2 assignment take frame You are working as a summer intern tor AAA
Mastery Problem: Accounting for Retail Businesses
Merchandising Transactions
Chapter Homework assignment take frame
You are working as a summer intern tor AAA Auditing, Inc. You have been asked to help resolve discrepancies noted in the audit for Dolfin Corporation, a retailer of
specialty aquarium supplies.
As a retail company, Dolfin Corporation uses the perpetual inventory system. To prepare for this assignment, you have been asked to review your knowledge of sales and
purchase transactions by completing the following table.
Consider the effect of each transaction on the three accounts listed, and identify which accounts are debited or credited. If not affected by the transaction, select No
Effect".
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