Able Corp made the following transactions in June: Bought $800 of inventory on account. Sold $200 of
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Question:
Able Corp made the following transactions in June: | ||||
Bought $800 of inventory on account. | ||||
Sold $200 of inventory for $300 cash. | ||||
Sold $150 of inventory for $350 on account. | ||||
Collected $500 of accounts receivable. | ||||
How much did accounts receivable increase (decrease)?
How much did inventory increase (decrease) in March?
Related Book For
Intermediate Accounting
ISBN: 978-0324300987
10th Edition
Authors: Loren A Nikolai, D. Bazley and Jefferson P. Jones
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