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Review the following transactions: A. On July 16, Arrow Corp. purchases 300 computers (Equipment) at $600 per computer from a supplier, on credit. Terms
Review the following transactions: A. On July 16, Arrow Corp. purchases 300 computers (Equipment) at $600 per computer from a supplier, on credit. Terms of the purchase are 4/10, n/50 from the invoice date of July 16. B. On August 10, Hondo Inc. receives advance cash payment from a client for legal services in the amount of $9,900. Hondo had yet to provide legal services as of August 10. C. On September 22, Jack Pies sells 40 pies for $30 cash per pie. The sales tax rate is 10%. D. On November 8, More Supplies paid a portion of their noncurrent note in the amount of $4,150 cash. Prepare any necessary journal entries. If an amount box does not require an entry, leave it blank. July 16 Aug. 10 Sept. 221 Nov. 8 Check My Work 00 Previous
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