Question: Several example scenarios in relation to rebates are provided below. Show the accounting impact of these transactions. That is, show how would the income statement

Several example scenarios in relation to rebates are provided below. Show the accounting impact of these transactions. That is, show how would the income statement and balance sheet look after each of these transactions. Assume that a company has the following income statement and balance sheet at the start of June 2017. They are not cumulative events' for the purposes of this illustration. Ignore any tax effects here.

a The company purchases a TV for $100, and the TV is not sold by the end of June.

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