FINANCIAL ACCOUNTING
10th Edition
ISBN: 9781259964947
Author: Libby
Publisher: MCG
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Transcribed Image Text:The series of five transactions recorded in the following T accounts were related to a
sale to a customer on account and the receipt of the amount owed. Briefly describe each
transaction.
Cash
Notes Receivable
75,000 | (d)
75,000
(e)
76,500
(c)
Accounts Receivable
Cost of Goods Sold
75,000 (c)
75,400 (b)
75,000
(b)
(a)
45,000
(d)
75,400
Inventory
Interest Revenue
45,000
(b)
(d)
400
(e)
1,100
Sales
(a)
75,000
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