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Question: record the following in the t accounts provided for sampv...

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Record the following in the T- accounts provided for S&V Office Supply Company. Use the Perpetual Inventory System

a) After completing Exercise One, calculate the account balance for the Inventory t-account. What is the correct debit balance total for this account? See circle on the printed exercise.

b) After completing Exercise One, calculate the account balance for the Sales Revenue t-account. What is the correct credit balance total for this account? See circle on the printed exercise.

c) After completing Exercise One, calculate the account balance for the Transportation Out Expense t-account. What is the correct debit balance total for this account? See circle on the printed exercise.

EXERCISE ONE Record the following transactions in the T-accounts provided (NEXT PAGE) for S & V Office Supply Company 1) S& V

Accounts Receivable Accounts Payable Cash Inventory Cost of Goods Sold Transportation Out Expense Sales Revenue

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