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Match each of the following descriptions to a balance sheet account. (4) o Created by credit sales O NOT CASH o Standardized long-term debt O
Match each of the following descriptions to a balance sheet account. (4) o Created by credit sales O NOT CASH o Standardized long-term debt O PP, E o Created by credit purchases Appears first due to having the most liquidity o Value reported includes an adjustment for accumulated depreciation (smaller #) o Internal source of equity o Common example includes wages payable o External source of equity o Intangible fixed asset o Would include bonds
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