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Financial assets 1. Twilight Co. has the following assets on Dec. 31, 20x1: Petty cash fund 10,000 Prepaid income tax Cash in bank 40,000 Prepaid

Financial assets 1. Twilight Co. has the following assets on Dec. 31, 20x1: Petty cash fund 10,000 Prepaid income tax Cash in bank 40,000 Prepaid assets 10,000 4,000 Notes receivable (N/R) 130,000 In...

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