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Current Attempt in Progress Novak Company buys merchandise on account from Flounder Company for $616....

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Accounting

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Current Attempt in Progress Novak Company buys merchandise on account from Flounder Company for $616. Novak sells the goods to Ellis for $936 cash. Use a tabular summary to record the transactions for Novak Company using a perpetual inventory system, Include margin explanations for the changes in revenues and expenses. - Decreases in assets, liabilities, or stockholders' equity require a negative sign or parentheses. - Increases in expenses require dnegative sign or parentheses. - Reductions in revenues require a negative sign or parentheses. Assets Cash

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