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Current Attempt in Progress Wildhorse Limited has the following information in its accounting records as at December 31,2024 : Aphysical inventory count revealed that there was $67700 in ending inventory. The cost of goods sold is $134600$118000$130600$112100 Current Attempt in Progress: Vaughn Company selis merchandise on account for $2490 to Bvie Sprice Company. Blue Spruce Company retums $810(cost$480) of merchandise that was damaged, along witha dieque to settle the account. What entry does Vaugha Company make upon recelpt of the cheque? The damaged inventory is sent to recyeling. Assume that Vaughn Compary uses the earnings approach. Assuming the company uses the earnings approsch for revenue recosnition in a periodic sytem, the requircd entryies) torecord the sale of merchandise for $1140 on credit for goots costing the company $620 woild be a) a debit to Cost of Goods Sold and credit to Merchandise liventory for $620. b) a debit to Accounts Recelvable and credit to Merchandise livento y for $2140 c) a debit to Accounts Receivable and credit to Sales for $1140. d) both a) and cl. Actempts: 0 of 1 used Current Attempt in Progress Maribold Ltd report as net sales on the comptry's multiple step inconiestatement? 571400$63920$52410$88990 The adjusted trial balance of Crane White Company appears below: What would be the balance in the Income Summary account after closing revenues and expenses? $264700 debit balance $234900 debit balance $234900 credit balance

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