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7 A sole trader took some goods costing $800 from inventory for his own use. The normal selling price of the goods is $1,600. Which of the following journal entries would correctly record this? Dr Cr $ $ A Drawings account 800 Inventory account 800 B Drawings account 800 Purchases account 800 C Sales account 1,600 Drawings account 1,600 (1 mark)

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7 A sole trader took some goods costing $800 from inventory for his own use. The normal selling price of the goods is

$1,600.

Which of the following journal entries would correctly record this?

Dr Cr

$ $

A Drawings account 800

Inventory account 800

B Drawings account 800

Purchases account 800

C Sales account 1,600

Drawings account 1,600

(1 mark)


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