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Maine Event is a new salon located in Saint John, New Brunswick. The following information relates to transactions that took place in June. Maine Event uses a perpetual inventory system and uses the earnings approach for revenue recognition. Instructions
Prepare the journal entries to record these transactions. Do not round amounts.
Mixed Numbers
A number consisting of an integer and a fractional part, commonly used in mathematics.
Improper Fractions
Fractions where the numerator (top number) is greater than or equal to the denominator (bottom number), indicating a value greater than or equal to one.
Lowest Terms
The simplest form of a fraction, where the numerator and the denominator are reduced to their smallest values.
Fraction
A numerical representation indicating a part of a whole, typically expressed with a numerator and denominator.
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