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A) The Supplies account shows a balance of $1,100. A count of supplies revealed $420 on hand. B) The $1,200 premium relating to a oneyear
A) | The Supplies account shows a balance of $1,100. A count of supplies revealed $420 on hand. |
B) | The $1,200 premium relating to a oneyear insurance policy was paid on December 1, 2016. |
C) | The companys equipment, which was purchased last year, depreciates at a rate of $900 per year. |
D) | On September 30, 2016, a customer paid $10,700 in advance for services. Of this amount, 30% was earned as of 12/31/16. |
E) | Employees are paid $1,000 on Fridays for the 5-day work week, which ends on that Friday. However, December 31, 2016 falls on a Thursday. |
F) | The company has completed $470 of work for customers; the customers have not yet been billed and the related revenue has not been recorded. |
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