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  • The Company Recorded The Following Summary Journal Entries During July A

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    Muhammad Shahid
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    The document summarizes 5 journal entries recorded by a company during the month of July: (a) Cash was increased by $30,000 for sales of $30,000. (b) Cash was increased by $8,000 and sales were increased by $48,000, with accounts receivable increased by $40,000. (c) Inventory was increased by $25,000 and accounts payable was increased by $25,000. (d) Cash was increased by $33,000 and accounts receivable was decreased by $33,000. (e) Accounts payable was decreased by $19,000 and cash was decreased by $19,000

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    The Company Recorded the Following Summary Journal Entries During July A

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    The document summarizes 5 journal entries recorded by a company during the month of July: (a) Cash was increased by $30,000 for sales of $30,000. (b) Cash was increased by $8,000 and sales were increased by $48,000, with accounts receivable increased by $40,000. (c) Inventory was increased by $25,000 and accounts payable was increased by $25,000. (d) Cash was increased by $33,000 and accounts receivable was decreased by $33,000. (e) Accounts payable was decreased by $19,000 and cash was decreased by $19,000

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    3 views1 page

    The Company Recorded The Following Summary Journal Entries During July A

    Uploaded by

    Muhammad Shahid
    The document summarizes 5 journal entries recorded by a company during the month of July: (a) Cash was increased by $30,000 for sales of $30,000. (b) Cash was increased by $8,000 and sales were increased by $48,000, with accounts receivable increased by $40,000. (c) Inventory was increased by $25,000 and accounts payable was increased by $25,000. (d) Cash was increased by $33,000 and accounts receivable was decreased by $33,000. (e) Accounts payable was decreased by $19,000 and cash was decreased by $19,000

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    © All Rights Reserved
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    The company recorded the following summary journal

    entries during July a #6429


    The company recorded the following summary journal entries during July.a. Cash
    ............................................. 30,000Sales .......................................................... 30,000b. Cash
    .............................................. 8,000Accounts Receivable ....................................... 40,000Sales
    .......................................................... 48,000c. Inventory .......................................
    25,000Accounts Payable .......................................... 25,000d. Cash ............................................
    33,000Accounts Receivable ..................................... 33,000e. Accounts Payable
    ............................. 19,000Cash ........................................................ 19,0001. Write a brief
    description of each of the five transactions represented by the journal entries in (a) through
    (e).2. At the beginning of July, the Accounts Receivable balance was $5,000. What is the
    Accounts Receivable balance at the end of July?View Solution:
    The company recorded the following summary journal entries during July a

    ANSWER
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