6. Determine the journal Entry required to represent gross profit at 50%.
a. Fact Pattern: Accounts Payable GL balance is $100,000 – this balance is correct –
b. Purchases GL balance is $80,000
c. Inventory GL Balance is $20,000
** Please enter your Journal Entry below:
a. Fact Pattern: Accounts Payable GL balance is $100,000 – this balance is correct –
b. Purchases GL balance is $80,000
c. Inventory GL Balance is $20,000
** Please enter your Journal Entry below: