In February 2020, Ola Gott invested an additional $12,000 in her business, Gotts Pharmacy, which is organized

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In February 2020, Ola Gott invested an additional $12,000 in her business, Gott’s Pharmacy, which is organized as a proprietorship. Gott’s accountant, Sal Costa, recorded this receipt as an increase in cash and revenues. Is this treatment appropriate? Why or why not?

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Accounting Principles

ISBN: 978-1119411482

13th edition

Authors: Jerry J. Weygandt, Paul D. Kimmel, Donald E. Kieso

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