ite Shoes was involved in the transactions described below. Purchased $8,200 of inventory on account. Paid weekly salaries, $920. Recorded sales for the first week: Cash: $7,100; On account: $5,300. Paid for inventory purchased in event (1). Placed an order for $6,200 of inventory. Required: Prepare the appropriate journal entry for each transaction. (If no entry is required for a transaction/event, select "No journal entry required" in the first account field.)

ite Shoes was involved in the transactions described below. Purchased $8,200 of inventory on account. Paid weekly salaries, $920. Recorded sales for the first week: Cash: $7,100; On account: $5,300. Paid for inventory purchased in event (1). Placed an order for $6,200 of inventory. Required: Prepare the appropriate journal entry for each transaction. (If no entry is required for a transaction/event, select "No journal entry required" in the first account field.)

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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answer in text form please (without image), Note: .Every entry should have narration please
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