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Prompts 2.1 and 2.2 utilize the following information:
Apple, Inc. has the following transactions for the month of December.
12/02/2023 Purchased inventory of $50,000 on credit.
12/05/2023 Received $20,000 cash from a customer for a previous sale that was made on credit.
Prompt #2.1 Please prepare the necessary T-Accounts for the above transactions from the business perspective:
Prompt #2.2 Provide the individual Journal Entries to record the above transactions from the business perspective.
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