Question 1

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Which of the following accounts correctly affected by the purchase of Joe's Shop inventories on account?

Select one:

a. Inventories, increase; Accounts Payable, increase

b. Cash, increase; Inventories, decrease

c. Inventories, increase; Cash, decrease

d. Accounts Receivable, increase; Inventories, increase

Question 2

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The steps in the process of accounting take place in the following order: