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Question 2-20 Points (2 points per Each) Listed below are several accounts listed from a company's trial balance. Next to each account put the letter
Question 2-20 Points (2 points per Each) Listed below are several accounts listed from a company's trial balance. Next to each account put the letter corresponding to the transaction cycle used to audit the account. A = Acquisition and payment cycle C = Capital acquisition and repayment cycle I = Inventory and warehousing cycle P = Payroll and personnel cycle S = Sales and collection cycle 1. Sales Revenue 2. Notes Payable 3 Land 4 Bad Debt Expense 5. Accrued Income Tax 6. Cost of goods sold 7. Allowance for Uncollectable Accounts 8. Advertising 9. Dividends Payable 10. Retained Earnings
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