Davis Parts Shop, Inc., uses a large amount of supplies in its business. The following table summarizes

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Davis Parts Shop, Inc., uses a large amount of supplies in its business. The following table summarizes selected transaction data for supplies that Davis Parts Shop purchased:

Determine the total purchases of supplies for July alone under each of the following assumptions:

1. Davis Parts Shop, Inc., recognizes purchases when orders are shipped.

2. Davis Parts Shop, Inc., recognizes purchases when orders are received.

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Financial Accounting

ISBN: 978-0538476010

11th edition

Authors: Belverd E. Needles, Marian Powers

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