Your company also received wages of 70 of which only 30 has, Accounting Basics

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Your company also received wages of 70 of which only 30 has

Problem

Suppose your company sells good for $300, of which $200 is received in cash and $100 is on account. The goods cost your company $125 in a previous period. Your company also received wages of $70, of which only $30 has been paid in cash. Show the journal entries to record these transactions.

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Accounting Basics: Your company also received wages of 70 of which only 30 has

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