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  3. the following five transactions occurred in year 2

The following five transactions occurred in Year 2: ...

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Accounting

The following five transactions occurred in Year 2:
First purchase (cash): 120 units @ $94
Second purchase (cash): 200 units @ $102
Sales (all cash): 430 units @ $191
Paid $13,400 cash for salaries expenses
Paid cash for income tax at the rate of 40 percent of income before taxes

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