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Consider these transactions: (Credit account titles are automatically indented when amount is entered. Do not indent manually

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Answer #1
a) Cash 194
Service charges ( 200 * 3 % ) 6
Sales revenue 200
Assuming Ivanhoe company is in food business.
b) Cash 59849
Service charges ( 61700 * 3%)/ Financing charges 1851
Accounts receivable 61700
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