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[The following information applies to the questions displayed belowj Suppose your company sells goods for $430, of which $265 is received in cash and $165

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[The following information applies to the questions displayed belowj Suppose your company sells goods for $430, of which $265 is received in cash and $165 is on account. The goods cost your company $151 and were pald for In a previous perlod. Your company also recorded salarles and wages of $135, of which only $43 has been paid In cash

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