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How to make adjusting entries to update merchandise inventory account
Listed below is a partial trial balance of the Charito Guillermo retailers at Dec 31, 2013:
Merchandise inventory 80,000 Sales 190,000 Sales return and allowances 20,000 Purchases 60,000 Purchases Discount 3,000 Transportation in 1,000 1. what is the adjusting entry for merchandise inventory 2. prepare partial income statement |
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