Prepare journal entries without explanations for the merchandising transactions listed below for Naveh Corporation.Assume use of the periodic inventory system.
Definitions:
Earnings Retention
The portion of a company's profits that is not distributed to shareholders as dividends but is kept by the company to reinvest in its core business or to pay debt.
Annual Dividend
represents the total dividend payment a company distributes to its shareholders within a given fiscal year.
Market Value
The cost for buying or selling assets or services in the marketplace at this time.
Constant Rate
A fixed percentage rate applied over a certain period which does not change.
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