Question
On April 1, 2013, Guyton Sails accepted a $12,000 advance payment for maintaining a customers fleet of sail boats. The contract is for a twelve
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On April 1, 2013, Guyton Sails accepted a $12,000 advance payment for maintaining a customers fleet of sail boats. The contract is for a twelve month period. What is the remaining liability that would appear on the companys balance sheet at the end of May?
$10,000
$1,200
$12,000
$10,800
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CPA Excel Auditing And Attestation
Authors: Robert A. Prentice
1st Edition
0977165876, 978-0977165872
