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Need help ASAP thank you! X Company, a merchandiser, started business on June 1 . The following were June transactions: 1. Received $86,000 from a
Need help ASAP thank you!
X Company, a merchandiser, started business on June 1 . The following were June transactions: 1. Received $86,000 from a group of investors. 2. Bought $8,007 of merchandise, $3,535 for cash and $4,472 on account. 3. Sold merchandise for $21,400, of which $16,860 was for cash and $4,540 was on account; Cost of Goods Sold was 57% of sales. 4. Paid $3,135 to suppliers for merchandise previously bought on account. 5. Paid wages of $5,380. 6. Collected $2,969 from customers on account. 7. Paid $5,000 for rent in advance. 5. What were total equities on June 30 ? C: $191,662 Tries 0/99Step by Step Solution
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