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On September 1, Reid Supply had an inventory of 15 backpacks at a cost of $20 each. The company uses a perpetual inventory system. During September, the following transactions and events occurred. Instructions
Journalize the September transactions for Reid Supply.
Ratification
The act of officially approving or confirming an action, agreement, or decision, often after the fact, to make it valid and binding.
Depreciation
The reduction in the value of an asset over time, particularly due to wear and tear.
Ratify
To formally approve or confirm an agreement or treaty, making it officially valid.
Misrepresentation of Age
The act of intentionally providing a false age or date of birth, usually for the purpose of obtaining certain rights or privileges not available to one's true age.
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