OperatingCycle - Sell products on credit Cost of goods sold...

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Operating Cycle Journal Entries A = L + E Purchase products on credit Inventory Accounts payable 10 10 Pay suppliers Accounts payable Cash 10 10 Accounts Receivable
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Unformatted text preview: Sales 20 20 Sell products on credit Cost of goods sold Inventory 10 10 Receive payment from customers Cash Accounts Receivable 20 20...
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