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Sheridan Online Company has these liability accounts after posting adjusting entries: Accounts Payable $72,500, Unearned Ticket Revenue $29,000, Warranty Liability $22,500, Interest Payable $8,900, Mortgage
Sheridan Online Company has these liability accounts after posting adjusting entries: Accounts Payable $72,500, Unearned Ticket Revenue $29,000, Warranty Liability $22,500, Interest Payable $8,900, Mortgage Payable $122,000, Notes Payable $83,500, and Sales Taxes Payable $15,500. Assume the company's operating cycle is less than 1 year, ticket revenue will be recognized within 1 year, warranty costs are expected to be incurred within 1 year, and the notes mature in 3 years
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