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Alex's Interiors, Inc., is an international manufacturer and retailer of home furnishings. The following is from Alex's balance sheet as of September 30, 2020 (dollars
Alex's Interiors, Inc., is an international manufacturer and retailer of home furnishings. The following is from Alex's balance sheet as of September 30, 2020 (dollars are in millions). Cash $ 80 Accounts Payable $ 26 Accounts Receivable 12 Wages and Other Expenses Payable 111 Inventories 188 Long-Term Debt 203 Other Current Assets 26 Other Long-Term Liabilities 44 Property, Plant, and Equipment Other Assets 355 Contributed Capital 356 99 Retained Earnings 20 Assume that the following events occurred in the
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