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1.Bad debt expense is estimated to be 1,407. 2.Equipment is depreciated based on a 7-year life (no residual value). 3.Insurance expired during the year 2,573.

1.Bad debt expense is estimated to be 1,407.

2.Equipment is depreciated based on a 7-year life (no residual value).

3.Insurance expired during the year 2,573.

4.Interest accrued on notes payable 3,489.

5.Salaries and wages earned but not paid 2,506.

6.Advertising paid in advance 741, charged to advertising expense when paid.

7.Office supplies on hand 1,540, charged to Office Expense when purchased.

what are credits and debits among the following?

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