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Show the effect of each on the accounting equation

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Reference no: EM132823766

Question - The Marchetti Soup Company entered into the following transactions during the month of June: (1) purchased inventory on account for $170,000 (assume Marchetti uses a perpetual inventory system); (2) paid $45,000 in salaries to employees for work performed during the month; (3) sold merchandise that cost $130,000 to credit customers for $225,000; (4) collected $205,000 in cash from credit customers; and (5) paid suppliers of inventory $150,000.

Analyze each transaction and show the effect of each on the accounting equation for a corporation.

Reference no: EM132823766

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