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6. The balance sheet for a local laundromat shows no accounts receivable and no accounts payable. Which is the most likely reason for this? a.
6. The balance sheet for a local laundromat shows no accounts receivable and no accounts payable. Which is the most likely reason for this? a. The laundromat has no debt. b. The laundromat runs its business on a cash basis. c. The laundromats bank has lowered the interest rate on its loans. d. The laundromats CPA has fully depreciated all of the business equipment. e. The laundromats CPA is using an accrual basis for the
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