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Golden Company Had These Transactions During the Accounting Period: Sold

Question 19

Multiple Choice

Golden Company had these transactions during the accounting period: Sold merchandise for $600; its cost was $400.
Collected $400 from a trade receivable.The account was established in the previous year.
Used office supplies of $50.
Golden's profit for the period would be which of the following?


A) $50.
B) $150.
C) $600.
D) $900.

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