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Selected Balances from the General Ledger of the All Star

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Selected balances from the general ledger of the All Star Video Rentals on July 31,2016,are listed below.Use the appropriate data to prepare the Revenue section of the firm's income statement for the month ended July 31,2016. Selected balances from the general ledger of the All Star Video Rentals on July 31,2016,are listed below.Use the appropriate data to prepare the Revenue section of the firm's income statement for the month ended July 31,2016.


Definitions:

Net Exports

The value of a country's total exports minus its total imports; it's a component of a nation's Gross Domestic Product (GDP).

Foreign Goods

Products or commodities that are produced in one country and then imported into another, making them external to the domestic economy.

Inventories

The quantities of goods on hand in a business at a specific time.

GDP Deflator

An economic metric that converts the current market value of all goods and services produced domestically into a figure adjusted for inflation.

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