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← Journalize the following assumed transactions for Smith's Drug Mart Corporation. Show amounts in millions. • Cash purchases of inventory, $3,800 million · · Sales on account (including credit cards), $19,400 million Cost of goods sold (perpetual inventory system), $4,600 million O Collections on account, $18,600 million Record journal entry for cash purchases of inventory, $3,800 million. (Record debits first, then credits. Explanations are not required. Enter amounts in millions.) Date Accounts Debit Credit

← Journalize the following assumed transactions for Smith's Drug Mart Corporation. Show amounts in millions. • Cash purchases of inventory, $3,800 million · · Sales on account (including credit cards), $19,400 million Cost of goods sold (perpetual inventory system), $4,600 million O Collections on account, $18,600 million Record journal entry for cash purchases of inventory, $3,800 million. (Record debits first, then credits. Explanations are not required. Enter amounts in millions.) Date Accounts Debit Credit

FINANCIAL ACCOUNTING
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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← Journalize the following assumed transactions for Smith's Drug Mart Corporation. Show amounts in millions. . Cash purchases of inventory, $3,800 million • . • Sales on account (including credit cards), $19,400 million Cost of goods sold (perpetual inventory system), $4,600 million O Collections on account, $18,600 million Record journal entry for cash purchases of inventory, $3,800 million. (Record debits first, then credits. Explanations are not required. Enter amounts in millions.) Date Accounts Debit Credit
Transcribed Image Text:← Journalize the following assumed transactions for Smith's Drug Mart Corporation. Show amounts in millions. . Cash purchases of inventory, $3,800 million • . • Sales on account (including credit cards), $19,400 million Cost of goods sold (perpetual inventory system), $4,600 million O Collections on account, $18,600 million Record journal entry for cash purchases of inventory, $3,800 million. (Record debits first, then credits. Explanations are not required. Enter amounts in millions.) Date Accounts Debit Credit
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