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Identry violations of the components of the conceptual framework. P 1 1 . 1 A ( LO 1 , 2 , 3 , 4 ,
Identry violations of the components of the conceptual framework. PA LO AP The following financial statements were provided by Sumsong Electronics Company. The owner, Gillian Sumsong, is applying for a second loan from the bank to buy some new equipment. The bank manager has requested these financial statements before considering a new loan to the company. Gillian has asked you to look at the statements and provide feedback. The company uses a perpetual inventory system and the contractbased approach for revenue recognition. All sales are made with terms of n Sumsong has a day return policy. tabletableSUMSONG ELECTRONICS COBalance SheetSeptember MPANY,Current assetsCash$Accounts receivable,Merchandise inventory,Total current assets,,$
Identry violations of the components of the conceptual framework.
PA LO AP The following financial statements were provided by Sumsong Electronics Company. The owner, Gillian Sumsong, is applying for a second loan from the bank to buy some new equipment. The bank manager has requested these financial statements before considering a new loan to the company. Gillian has asked you to look at the statements and provide feedback. The company uses a perpetual inventory system and the contractbased approach for revenue recognition. All sales are made with terms of n Sumsong has a day return policy.
tabletableSUMSONG ELECTRONICS COBalance SheetSeptember MPANY,Current assetsCash$Accounts receivable,Merchandise inventory,Total current assets,,$
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