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The Accountant for Soybean Products Gathered the Following Information from the Accounting

Question 129

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The accountant for Soybean Products gathered the following information from the accounting records for the year ended December 31,2017:
The accountant for Soybean Products gathered the following information from the accounting records for the year ended December 31,2017:    *Relates solely to the purchase of inventory Calculate the following: a.Sales b.Cost of goods sold c.Salary expense d.Insurance expense *Relates solely to the purchase of inventory
Calculate the following:
a.Sales
b.Cost of goods sold
c.Salary expense
d.Insurance expense

Correct Answer:

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a.$520,000 + $42,800 = $562,80...

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