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Milo Clothing experienced the following events during Year 1 , its first year of operation: Acquired $ 3 0 , 0 0 0 cash from
Milo Clothing experienced the following events during Year its first year of operation:
Acquired $ cash from the issue of common stock.
Purchased inventory for $ cash.
Sold inventory costing $ for $ cash.
Paid $ for advertising expense.
Required
a Record the general journal entries for the preceding transactions.
b Post each of the entries to Taccounts.
c Prepare a trial balance to prove the equality of debits and credits.
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