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You are given the following transactions for an entity that uses the periodic inventory system:...

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Question

Accounting

You are given the following transactions for an entity that uses the periodic inventory system:
Instructions:
For each transaction, you must indicate which subsidiary journal the transaction will be entered.
You must then indicate whether the VAT Input account or the VAT Output account in the general ledger must be debited or credited.
You must then calculate the VAT amount and enter it in the amount column.
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