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Capital tech inc stared 2017 with inventory of:

Capital Tectroluyios inc. Leyar 2017 with inventory of $10,0CC. During the year. Capia purchased inventory cueling $100,000 aNext adjust ending inventory. Journal Entry Accounts Debit Credit Now close out purchases for the period. Journal Entry AccouJournal Entry Accounts 1 Debit Credit Jo Accounts Payable Accounts Receivable Cash Cost of Goods Sold Freight In Income Summa

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Answer #1
No. Accounts debit credit
1 Purchases 100000
Accounts payable 100000
2 Accounts receivable 175000
sales revenue 175000
3 Cost of goods sold 18000
inventory 18000
4 Inventory 36000
cost of goods sold 36000
5 cost of goods sold 100000
purchases 100000
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