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Unformatted text preview: $10,500 inventory $10,500 10-Oct accounts payable $14,900 inventory $298 cash $14,602 10-Oct sales returned allow. $200 accounts reciev. $200 23-Oct cash $17,444 accounts reciev. $17,444 29-Oct salary expense $1,500 cash $1,500 31-Oct rent expense $1,450 cash $1,450 e5-13b gross profit 19.53% Profit Margin Ratio 16% p5-1b I don’t see a p5-1b anywhere in the book...
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- Spring '08
- Revenue, Generally Accepted Accounting Principles, allowences Sales Discounts, e5-4b sales sales, sales net sales, salary expense cash