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Business, 12.03.2020 20:02 Skylar8826

Acquired $27,500 cash from the issue of common stock. Purchased inventory for $22,000 cash. Sold inventory costing $15,600 for $30,500 cash. Required. Record the events in general journal format. b. Post the entries to T-accounts. c. Determine the amount of gross margin. d. What is the amount of net cash flow from operating activities for Year 1

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Acquired $27,500 cash from the issue of common stock. Purchased inventory for $22,000 cash. Sold inv...
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