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Pepper Company provided the ancial statements shown below as well as the fo d tional information: a . All sales during the year were on

Pepper Company provided the ancial statements shown below as well as the fo dtional information:
a. All sales during the year were on account.
b. There was no change in the number of shares of common stock outstanding during the year.
c. The interest expense on the income statement relates to the bonds payable; the amount of bonds outstanding did not change during the year.
d. Selected balances at the beginning of the current year were:
\table[[Accounts receivable,$270,000
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