The closing balance for Accounts payable on December 31, 2017 was $1 During 2018 the following transactions occurred NGST purchased $1,706 worth of inventory, and paid its suppliers $1,607 In addition to the transactions in item above, NGST purchased, from the supplier it had advances with on Decem...

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The closing balance for Accounts payable on December 31, 2017 was $1. During 2018 the following transactions

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The closing balance for Accounts payable on December 31, 2017 was $1.

During 2018 the following transactions occurred:

NGST purchased $1,706 worth of inventory, and paid its suppliers $1,607.
In addition to the transactions in item above, NGST purchased, from the supplier it had advances with on December 31, 2017, 120 VR headsets, at $2.50 per unit. By the end of the year, NGST settled the account and paid it in full.

What will be the journal entry, t-account or ledger for the above transaction.

Posted Date: Jun 14, 2024 02:06 AM

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The closing balance for Accounts payable on December 31, 2017 was $1. During 2018 the following transactions

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