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Prepare the entry that Asheton would make

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Question - Asheton Supplies Inc. purchases 1,000 fax machines from its main supplier for $100,000 cash. Asheton plans to resell 900 of them to customers for use in homes and offices. The additional fax machines will be used in Asheton's offices.

Task - Prepare the entry that Asheton would make to record the purchase. Explain your reasoning for the account(s) you use to record the new fax machines.

Reference no: EM132610906

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