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The adjusted trial balance of Fargo Company as of July 3 1 , 2 0 2 2 , is presented below. ( Read that again,
The adjusted trial balance of Fargo Company as of July is presented below. Read that
again, think about what that means about where Fargo is in the accounting cycle. Notice that the total
debits and credits for each account are indicated including the beginning balances rather than the usual
account balance. For example, the cash account had transactions which resulted in a total of $
debits including the beginning balance and a total of $ credits.
All adjusting entries have been made for the month of July except the adjustment for
inventory. Fargo's fiscal year end is June
If the beginning balance in Note Payable was $ what amount of Notes Payable did Fargo issue
in in July?
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