The Income Statement section of the worksheet of Smith Company for the year ended December 31, has

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The Income Statement section of the worksheet of Smith Company for the year ended December 31, has $179,000 recorded in the Debit column and $203,344 in the Credit column on the line for the Income Summary account. What were the beginning and ending balances for Merchandise Inventory?
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College Accounting A Contemporary Approach

ISBN: 978-0073396958

2nd edition

Authors: David Haddock, John Price, Michael Farina

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