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The options for account are as follows: Cash, Accounts Receivable, Inventory, Prepaid Rent, Fixtures and Equipment, Accounts Payable, Interest Payable, Wages Payable, Notes Payable, Paid-In
The options for account are as follows: Cash, Accounts Receivable, Inventory, Prepaid Rent, Fixtures and Equipment, Accounts Payable, Interest Payable, Wages Payable, Notes Payable, Paid-In Capital, Retained Earnings, and Leave Blank
Transaction 5 Sales were $60,000. Cost of merchandise sold was 65% of sales. 60% of sales were on open account. [Note: Record the complete entry for the sales first and the complete entry for the expenses second] Account: Dollar amount: Account: Dollar amount: Account: Dollar amount: Account: Dollar amount: Account: Dollar amount: Account: Dollar amountStep by Step Solution
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