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9 CentralLink | Central Michig Top Ha: th Chapter 5 Homework X Ο A https://mybusine pt php?attempt-2076088 TI E Menu Cody Brown- ACC 201 - Concepts of Financial Accounting ACC 201 Concepts of Financial Accounting My SubscriptionsCoursesACC 201 - Concepts of Financial Accounting Chapter 5 Chapter 5 Homework Grades ASSIGNMENT NAVIGATION CLICK HERE TO REVIEW LEARNING OBIECTIVES Chapter 1 Chapter 2 Chapter 3 Chapter 4 Chapter 5 Chapter 6 Chapter 7 Chapter 8 Chapter 9 Chapter 10 Chapter 11 QUESTIONT Not complete Marked out ot 1.00 P Flap question Accounting for Purchase Transactions Debra Company began operations an June 1. The follawing transactions took place in June: a. Purchases of merchandise on account were $600,000. b. The cost of freight to receive the inventory was s20,000. This was paid in cash. c. Debra returned $10,000 of the merchandise due to an ordering error. Debra received a full credit for the return. d. Debra paid the remaining balance for the merchandise. Calculate the dollar amount that Debra wil have in inventory at the end of the month. Assume Debra uses the perpetual inventory system and there were no sales, Finish attempt.. Check Save Answers Next page My Subscriptions O Type here to search 10y8/2018

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Amount that Debra will have in inventory at the end of the month = $600,000 + $20,000 - $10,000 = $610,000

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