Liabilities are the entitys obligations to outside parties who have furnished resources. These parties are generally called

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Liabilities are the entity’s obligations to outside parties who have furnished resources. These parties are generally called creditors because they have extended credit to the entity. As Exhibit 1 indicates, suppliers have extended credit in the amount of $6,077,000 as indicated by the item A ______ P _____ .

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Essentials Of Accounting

ISBN: 9780273771463

11th International Edition

Authors: Leslie K. Breitner

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