janesieravelo94901 janesieravelo94901

03-06-2023
Business

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Hot Pepper Company had the following information in its accounting records at year end:
Inventory Cost $4,000,000
It estimates the net realizable value of this inventory is $3,500,000. As a result of this information Hot Pepper Co. would:
Multiple Choice
A. Make a journal entry debiting the allowance for inventory valuation for $500,000
B. Make a journal entry debiting a gain on market appreciation for $500,000
C. Make a journal entry crediting the allowance for inventory valuation for $500,000
D. Make no entry

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