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Recording transactions (10 marks) Candy Love (CL) had the following closing balances at 31 March:  Cash 45,000 Accounts receivable 10,000 Inventory 23,000 Share capital 78,000 Here are some business transactions for April:  1. CL makes a sale on credit of $30,000. The cost of the inventory sold was $12,000.  2. CL purchases inventory of $20,000 paying cash.  3. CL collects $10,000 from customers on credit.  Enter the opening balances (Bal) and record the transactions on the accounting equation. Calculate the closing balances (Bal).  This is a computer-marked question. All cells need to have an answer. If a cell has no amount or entry, put in a 0.  When entering your answer, enter numbers only. Don't include a dollar sign ($), decimals, commas or spaces. For example, '$10,000' should be '10000'. For negative amounts, use a - sign. For example, -200.  There are six different accounts in this table, you may need to scroll across the screen to see them all.    Cash Accounts receivable Inventory Share capital Sales revenue Cost of sales Bal [Fill in the blank] [Fill in the blank] [Fill in the blank] [Fill in the blank] [Fill in the blank] [Fill in the blank] 1 [Fill in the blank] [Fill in the blank] [Fill in the blank] [Fill in the blank] [Fill in the blank] [Fill in the blank] 2 [Fill in the blank] [Fill in the blank] [Fill in the blank] [Fill in the blank] [Fill in the blank] [Fill in the blank] 3 [Fill in the blank] [Fill in the blank] [Fill in the blank] [Fill in the blank] [Fill in the blank] [Fill in the blank] Bal [Fill in the blank] [Fill in the blank] [Fill in the blank] [Fill in the blank]  [Fill in the blank] [Fill in the blank]    

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