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Accounting Problems

28/03/2020 Client: rawan Deadline: 24 Hours

The Marchetti soup Company entered into the following transactions during the month of june: (1) purchased inventory on account for $171,000 (assume Marchetti uses a perpetual inventory system); (2) paid $48,000 in salaries to employees for work performed during the month; (3) sold merchandise that cost $120,000 to credit customers for $208,000; (4) collected $167,000 in cash from credit customers; and (5) paid suppliers of inventory $140,000.


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