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Following are selected accounts for a manufacturing company. For each account, indicate whether it will appear on a budgeted income statement (BIS) or a budgeted
Following are selected accounts for a manufacturing company. For each account, indicate whether it will appear on a budgeted income statement (BIS) or a budgeted balance sheet (BBS). If an item will not appear on either budgeted financial statement, label it NA. Budgeted cash receipts Cost of goods sold Budgeted loan activity Office salaries expense Cash dividends paid Accumulated depreciation Sales commission expense Interest expense on loan payable
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