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answer all 3 Which of the following is a current lability? Prepaid expenses Sales discounts Deferred revenue Accumulated depreciation Question 5 The company borrowed $100,000
answer all 3 Which of the following is a current lability? Prepaid expenses Sales discounts Deferred revenue Accumulated depreciation Question 5 The company borrowed $100,000 from Wells Fargo and signed a one-year promissory note. Hbw did this note affect the company's financial statements the day they borrowed the money? Investing activities increased Net income increased Assets increased Stockholders equity increased Question 6 On November 1, Year1, a company signed a $100,000,6%, six-month note payable with the amount bomowed alus accrued interest due six months later on May 1, Year2. The company should report interest payable on December 31, Year1, in the amount of: 50 $1,000 $2,000 $3.000
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