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Prepre Journal Entries May Made cash sales of $7,100; the cost of the inventory was $3,600. 1

Prepre Journal Entries May Made cash sales of $7,100; the cost of the inventory was $3,600. 1

Intermediate Accounting: Reporting And Analysis
Intermediate Accounting: Reporting And Analysis
3rd Edition
ISBN:9781337788281
Author:James M. Wahlen, Jefferson P. Jones, Donald Pagach
Publisher:James M. Wahlen, Jefferson P. Jones, Donald Pagach
Chapter7: Inventories: Cost Measurement And Flow Assumptions
Section: Chapter Questions
Problem 3RE: Reid Company uses the periodic inventory system. On January 1, it had an inventory balance of...
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Prepre Journal Entries May Made cash sales of $7,100; the cost of the inventory was $3,600. 1 5 Purchased $2,400 of inventory on credit. 9. Made credit sales of $3,300; the cost of the inventory sold was $2,100. 13 Paid sales salaries of $1,100 and office salaries of $400.
Transcribed Image Text:Prepre Journal Entries May Made cash sales of $7,100; the cost of the inventory was $3,600. 1 5 Purchased $2,400 of inventory on credit. 9. Made credit sales of $3,300; the cost of the inventory sold was $2,100. 13 Paid sales salaries of $1,100 and office salaries of $400.
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