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couple accounting questions about journal entry and indirect cash flow

S

skim milk

Diamond Member
how do I put this statement in a journal entry.. if it doesn't need to be in a journal entry, what effect does it have on other financial reports

"The market value of the inventory was 27,500"


for indirect cash flow, is the adjusting and closing required? I'm still reviewing the indirect method.... for the direct method, no adjusting or closing is required, only the cash T-account pretty much.
 
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