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The following facts apply for Caitlin Clark Co . On March 1 8 , 2 0 2 4 , purchased goods for $ 3 5
The following facts apply for Caitlin Clark Co
On March purchased goods for $ from Sue Bird Co on account, terms n
On March Caitlin Co paid for all the goods in cash.
On April Caitlin Co sold all those goods for $ to Candace Parker Inc. on account, terms
n
On April Candace Parker pays Caitlin Co in full for the goods
Caitlin Co uses the net method of accounting for cash discounts, both for purchases and sales.
Caitlin Co uses the perpetual method of inventory.
a Make all journal entries for Caitlin Clark Co only
b For each entry, report the effects on total assets, liabilities, equity, revenues, expenses, and net
income. Also report the TOTAL effects of all entries. Report both direction and amount.
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