Question
XYZ Corp had the following transactions during June 2023: Sold goods for $10,000 cash. Purchased inventory on credit for $5,000. Paid $2,000 for operating expenses.
XYZ Corp had the following transactions during June 2023:
- Sold goods for $10,000 cash.
- Purchased inventory on credit for $5,000.
- Paid $2,000 for operating expenses.
Prepare the journal entries to record these transactions.
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Financial and Managerial Accounting
Authors: Belverd E. Needles, Marian Powers, Susan V. Crosson
10th edition
978-1285441979, 1285441974, 978-1133626992, 1133626998, 978-1133940593
