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Abbott Company purchased $7,100 of merchandise inventory on account. Abbott uses the perpetual inventory method. How does this transaction affect the financial statements

Abbott Company purchased $7,100 of merchandise inventory on account. Abbott uses the perpetual inventory method. How does this transaction affect the financial statements
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Abbott Company purchased $7,100 of merchandise inventory on account. Abbott uses the perpetual inventory method. How does this transaction affect the financial statements

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User Derek Ekins
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The answer is b I hope this helps
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User Nicholas C
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