On September 15, 2011, Rodriguez LLC incurs the following costs, all of which were paid in...

 

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On September 15, 2011, Rodriguez LLC incurs the following costs, all of which were paid in cash: Invoice (inventory) cost Inventory delivery cost Cost to insure inventory during shipment/delivery Sales tax on inventory purchased Inventory packaging and inspection costs Cost to market inventory to customers Cost to clean dirty inventory on Rodriguez LLC's shelves TOTAL 160,000 7,500 1,500 8,000 400 1,600 700 179,700 What journal entry should Rodriguez LLC record associated with these costs? Account Debit On September 15, 2011, Rodriguez LLC incurs the following costs, all of which were paid in cash: Invoice (inventory) cost Inventory delivery cost Cost to insure inventory during shipment/delivery Sales tax on inventory purchased Inventory packaging and inspection costs Cost to market inventory to customers Cost to clean dirty inventory on Rodriguez LLC's shelves TOTAL 160,000 7,500 1,500 8,000 400 1,600 700 179,700 What journal entry should Rodriguez LLC record associated with these costs? Account Debit

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The journal entry Account Debit Credit Inventory 16... View the full answer