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Andreyy89
3 years ago
8

When a company recognizes cost of goods sold, how does that event impact the elements of the financial statements? (Ignore the e

ffects of recognizing sales revenue.
Business
1 answer:
jarptica [38.1K]3 years ago
6 0

Answer:

;'

;'

;'

'

;'

;';/".mk,..;

Explanation:

b ,  m, ./

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See explanation section.

Explanation:

The correct journal to record this transaction is -

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Note: As Callie Taylor invests the amount in exchange for common stock, An asset (cash) will be increased, and equity (common stock) will be increased. An increase in asset means debit, while an increase in equity means credit.

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A balance is _____.
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