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Norma Smith is the controller of Sheridan Corporation and is responsible for the preparation of the year - end financial statements. The following transactions occurred
Norma Smith is the controller of Sheridan Corporation and is responsible for the preparation of the yearend financial statements. The following transactions occurred during the year.
For each of the following transactions, indicate the dollar amount to be reported as a current liability as of December
Reported as
a Bonuses to key employees based on net income for are estimated to be $
b On December the company borrowed $ at per year. Interest is paid quarterly.
c Accounts receivable at December is $ An aging analysis indicates that Sheridan's expense provision for doubtful accounts is estimated to be of the receivables balance.
d On December the company declared a $ per share dividend on the shares of common stock outstanding, to be paid on January
e During the year, customer advances of $ were received; $ of this amount was earned by December
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