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Financial Accounting: Tools for Business Decision Making, 7th Edition by Donald E. Kieso, Jerry J. Weygandt, Paul D. Kimmel

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RAPID REVIEWChapter Content

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The following is a sample chart of accounts. It does not represent a comprehensive chart of all the accounts used in this textbook but rather those accounts that are commonly used. This sample chart of accounts is for a company that generates both service revenue as well as sales revenue. It uses the perpetual approach to inventory. If a periodic system was used, the following temporary accounts would be needed to record inventory purchases: Purchases; Freight-in; Purchase Returns and Allowances; and Purchase Discounts.

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RAPID REVIEWChapter Content

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RAPID REVIEWFinancial Statements

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RAPID REVIEWTools for Analysis

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