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Gatineau Bank is considering giving Novotna Corporation a short-term bank loan. Before doing so, it decides that further discussions with Novotnas accountant may be desirable.
Gatineau Bank is considering giving Novotna Corporation a short-term bank loan. Before doing so, it decides that further discussions with Novotnas accountant may be desirable. One area of particular concern is the inventory account, which according to a recent physical inventory count, has a balance of $309,541 at December 31. This count agreed with the accounting records. Discussions with the accountant reveal the following:
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