Patricia McDonald has determined that the value of her liquid assets is $4,600, the value of her real estate is $134,000, the value of her personal possessions is $58,000, and the value of her investment assets is $74,000.
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A company uses a perpetual system to record inventory transactions. The company purchases inventory on account on February 9, 2021, for $57,000 and then sells this inventory on account on March 7, 2021, for $79,000.
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