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Skidmore Music Company had the following transactions in March: Sold instruments to customers for $15,400; received $10,600 in cash and the rest on account. The cost of the instruments was $7,700. Purchased $4,000 of new instruments inventory; paid $1,800

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Skidmore Music Company had the following transactions in March: Sold instruments to customers for $15,400; received $10,600 in cash and the rest on account. The cost of the instruments was $7,700. Purchased $4,000 of new instruments inventory; paid $1,800
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