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The Matched Soup Company entered into the following transactions during the month of June (1) purchased inventory on account for $190,000 (assume Marchetti uses a

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The Matched Soup Company entered into the following transactions during the month of June (1) purchased inventory on account for $190,000 (assume Marchetti uses a perpetual inventory system). (2) paid $49,000 in salaries to employees for work performed during the month (3) sold merchandise that cost $138,000 to credit customers for $245,000. (4) collected $225,000 m cash from credit customers and (5) paid suppliers of inventory $170,000 Analyze each transaction and show the effect of each on the accounting equation for a corporation (Amounts to be deducted should be indicated by a minus sign. Enter the net change on the accounting equation.)

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