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13. LMG purchased inventory costing $35,000 on account from its vendor, Cole Products. Which accounts...

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Question

Accounting

13. LMG purchased inventory costing $35,000 on account from its vendor, Cole Products. Which accounts are affected by this transaction?

Group of answer choices

A. Inventory and accounts payable.

B. Product expenses and accounts payable.

C. Inventory and accounts receivable.

D. Supplies and accounts receivable.

Answer & Explanation Solved by verified expert
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