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This document records various transactions between May 1-25 including purchases of inventory, sales of inventory, payments to accounts payable, collections from accounts receivable, and freight costs. Purchases are recorded as debits to inventory and credits to accounts payable, sales are debits to accounts receivable and credits to sales, and payments are credits or debits to cash with offsetting debits or credits to other accounts.
This document records various transactions between May 1-25 including purchases of inventory, sales of inventory, payments to accounts payable, collections from accounts receivable, and freight costs. Purchases are recorded as debits to inventory and credits to accounts payable, sales are debits to accounts receivable and credits to sales, and payments are credits or debits to cash with offsetting debits or credits to other accounts.
This document records various transactions between May 1-25 including purchases of inventory, sales of inventory, payments to accounts payable, collections from accounts receivable, and freight costs. Purchases are recorded as debits to inventory and credits to accounts payable, sales are debits to accounts receivable and credits to sales, and payments are credits or debits to cash with offsetting debits or credits to other accounts.