Classification of Assets and Liabilities Indicate the appropriate classification of each of the following as a current
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________ 1. Inventory
________ 2. Accounts payable
________ 3. Cash
________ 4. Patents
________ 5. Notes payable, due in six months
________ 6. Taxes payable
________ 7. Prepaid rent (for the next nine months)
________ 8. Bonds payable, due in ten years
________ 9. Machinery
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Using Financial Accounting Information The Alternative to Debits and Credits
ISBN: 978-1133161646
7th Edition
Authors: Gary A. Porter, Curtis L. Norton
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