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I need fast help in these questions and i have only 30 minutes. Please do them correctly and 100% and fast please. A Moving to
I need fast help in these questions and i have only 30 minutes. Please do them correctly and 100% and fast please.
A Moving to another question will save this response. Question 19 The Chiets received and accepted a $500, 60-day, 12 percent note on October 15 in payment of an account receivable. The Chiefs should expect a check in payment of the note and interest on December 14, in the amount of O 5500 O 5560 5510 O $490 Moving to another question will save this response. Question 20 Assuming Rams Inc. has a $1,000 credit balance in Allowance for Doubtful Accounts, the journal entry to write off an uncollectible account receivable of S400 will cause the following effect on total current assets and net income for the period. Have no effect on either total current assets of net income Reduce both current assets and net income Have no effect on current assets and reduce net income Have no effect on net income and reduce current assets A Moving to another question will save this response. Question 21 When Straw Man inc. closes their books for the year, the closing entry process consists of closing all permanent (real) accounts out the Retained Earnings account al temporary (nominal) accounts O all asset and liability accountsStep by Step Solution
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