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We originally bought 200 marbles for $8000 total. We then sold 135 marbles for $100 each on account. Show the journal entry for the sale. 1a) 1b) 1c) 1d) 1e) Show the journal entry on the accounting equation Show the COGS and ending balance of your inventory in the Inventory general Ledges From this problem, what are the amounts shown on Income Statement? From this problem, what is the amount shown on the Balance Sheet?

We originally bought 200 marbles for $8000 total. We then sold 135 marbles for $100 each on account. Show the journal entry for the sale. 1a) 1b) 1c) 1d) 1e) Show the journal entry on the accounting equation Show the COGS and ending balance of your inventory in the Inventory general Ledges From this problem, what are the amounts shown on Income Statement? From this problem, what is the amount shown on the Balance Sheet?

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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3 4 5 6 7 B 9 10 11 12 13 We originally bought 200 marbles for $8000 total. We then sold 135 marbles for $100 each on account. Show the journal entry for the sale. 1a) 1b) 1c) 1d) le) Show the journal entry on the accounting equation Show the COGS and ending balance of your inventory in the Inventory general Ledger From this problem, what are the amounts shown on Income Statement? From this problem, what is the amount shown on the Balance Sheet?
Transcribed Image Text:3 4 5 6 7 B 9 10 11 12 13 We originally bought 200 marbles for $8000 total. We then sold 135 marbles for $100 each on account. Show the journal entry for the sale. 1a) 1b) 1c) 1d) le) Show the journal entry on the accounting equation Show the COGS and ending balance of your inventory in the Inventory general Ledger From this problem, what are the amounts shown on Income Statement? From this problem, what is the amount shown on the Balance Sheet?
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