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pls answer both (not many questions left) During the review of the records of hast month's inventory purchases, you noticed that one purchase of Inventory
pls answer both (not many questions left)
During the review of the records of hast month's inventory purchases, you noticed that one purchase of Inventory for $5,000 in cash was recorded twice (erroneously). All other records are correct. Which of the following statement is wrong about the impact of this missing record on the financial statement(s)? The cost of wles must be reported larget than what it should have been. The Retahed Earing amount at the end of the accounting peind was reported smaler than whot it should have been. The net oroti must be reported smallee than what it should tave been. The imentory batunce on the Balsnce sheet is reported lager than what it thould have been. Question 32 1pts How does a business firm journalize when oustomers purchase gitt cards from your business for future use? (Prevemest are recorded in the creda side Step by Step Solution
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