7.) The following data pertain to Home Office Company for the year ended December 31, 2017 (8) Sales (25% were cash sales) during the year $1,100,600 690,300 319,800 738,200 Cost of goods sold during the year Beginning inventory Purchages (10% were cash purchases) during the year a. Prepare journal entries to record sales, cost of goods sold, and the purchase of inventory during 2017 using the perpetual inventory system. b. Compute the balance in the inventory account on December 31, 2017.

7.) The following data pertain to Home Office Company for the year ended December 31, 2017 (8) Sales (25% were cash sales) during the year $1,100,600 690,300 319,800 738,200 Cost of goods sold during the year Beginning inventory Purchages (10% were cash purchases) during the year a. Prepare journal entries to record sales, cost of goods sold, and the purchase of inventory during 2017 using the perpetual inventory system. b. Compute the balance in the inventory account on December 31, 2017.

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Description: Do not give salutations in image format thankuh 7.) The following data pertain to Home Office Company for the year ended December 31, 2017 (8)Sales (25% were cash sales) during the year$1,100,600690,300319,800738,200Cost of goods sold during the year

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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