Under the accrual system, expenses are recorded when paid.
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Q55: The physical inventory count is not needed
Q56: The category Other Income can be used
Q57: Differences in the ending physical count of
Q58: When the adjustment is made for depreciation,
Q59: The perpetual inventory system updates the record
Q61: Calculate: (a) net sales, (b) cost
Q62: As supplies are used, they become
A) an
Q63: Calculate: (a) net sales, (b) inventory shrinkage,
Q64: Indicate the normal balance of each of
Q65: Prepare the general journal entry to record
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