Question: When an entity acquires goods or services, it makes an expenditure . In August, Juarez Shop purchased goods for its inventory at a cost of

When an entity acquires goods or services, it makes an expenditure

. In August, Juarez Shop purchased goods for its inventory at a cost of $1,000, paying cash; it had an e ________ e of

$1,000 in August. It would record this transaction with the following journal entry:Dr. I Cr. C 1,000 1,000

Dr. I Cr. C 1,000 1,000

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