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Can someone explain how to get the answer providing formulas and calculations? Thank you 62) Accounts Payable $55,000 $90,000 Land $10,500 Inventory $7,500 Accounts Receivable
Can someone explain how to get the answer providing formulas and calculations? Thank you
62) Accounts Payable $55,000 $90,000 Land $10,500 Inventory $7,500 Accounts Receivable $8,000 Equipment Deferred Revenue $58,500 Short-term Investments $20,000 Notes Receivable (due in 8 months) $45,500 Interest Payable $2,000 $75,000 Patents What is the amount of intangible assets assuming the accounts above reflect normal activity? A) $140,500. B) $120,500. C) $75,000 D) $95,000Step by Step Solution
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