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Green Farms is applying for a loan at the local bank. The loan officer needs current financial statements to be considered for financing. The farm
Green Farms is applying for a loan at the local bank. The loan officer needs current financial statements to be considered for financing. The farm manager gathered the following information about the farm to complete the Balance Sheet. STEP 1: Classify the following items as they would appear on the Balance Sheet. Then record the items you classified on the Balance Sheet on the next page. For example, Land is a Fa (Fixed Asset). a. CA - Current Asset d. CL Current Liability b. IA - Intermediate Asset e. IL - Intermediate Liability c. FA - Fixed Asset f. LL-Long-term Liability
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