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Required Information [The following information applies to the questions displayed below] Heines Clocks is a retailer of wall, mantie, and grandfather clocks and is located
Required Information [The following information applies to the questions displayed below] Heines Clocks is a retailer of wall, mantie, and grandfather clocks and is located in the Empire Mall in Sioux Falls, South Dakota. Assume that a grandfather clock was sold for $13,500 cash plus 4 percent sales tax. The clock had originally cost Heines $9,500. Assume Heines uses a perpetual inventory system 1. Indicate the effects of the amounts for the above transactions. (Enter any decreases to account balances with a minus sign.) Liabilities Stockholders' Equity
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