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How will this transaction affect the company assets

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Reference no: EM133079612

Question - JDK's merchandising business purchases $200,000 worth of inventory over the course of the quarter. At the end of the quarter, it has sold $175,000 of it at a cost of $280,000.

a. How will this transaction affect the company's assets?

b. How will this transaction affect the company's liabilities and equity?

Reference no: EM133079612

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