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Problem Solving Survival Guide to accompany Financial Accounting, 8th Edition by Donald E. Kieso, Paul D. Kimmel, Jerry J. Weygandt

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SOLUTION TO EXERCISE 11-7

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Approach: Write down the journal entry(ies) associated with each situation (refer to Illustration 11-2). Take the accounts in each entry and examine their individual effects on the items listed.

TIP: Study the solution and carefully notice the similarities and differences in the effects of the various distributions.

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