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very urgent hi you all guys are so greate thankyou so much u always help me. Take me to the text Great Shirt Wholesalers spent
very urgent hi you all guys are so greate thankyou so much u always help me.
Take me to the text Great Shirt Wholesalers spent $10,300 to purchase 1,000 shirts from a shirt manufacturer as inventory. Worn Star Shirt Retailers purchased 1,000 shirts for $15,300 from Great Shirt Wholesalers on August 1, 2019. Payment is due on September 1. Both companies use the perpetual inventory system. Do not enter dollar signs or commas in the input boxes. Required a) Prepare the journal entry for Worn Star Shirt Retailers on August 1. Date Account Title and Explanation Debit Credit 2019 Aug 1 Purchased inventory b) Prepare the journal entries for Great Shirt Wholesalers on August 1. Record the revenue transaction first. Date Account Title and Explanation Debit Credit 2019 Aug 1 Sold inventory on account Aug 1 . Cost of goods sold for above saleStep by Step Solution
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