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The following amounts appeared in the accounting records of XYZ Inc. for the year: Operating expenses $45000 Net income $7000 Interest expense $30000 Dividends paid
The following amounts appeared in the accounting records of XYZ Inc. for the year: Operating expenses $45000 Net income $7000 Interest expense $30000 Dividends paid $15000 Income tax expense $55000 Deferred revenue $140000 There were no other expenses. What was XYZ Inc.'s sales for the year? Your Step by Step Solution
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Survey of Accounting
Authors: Carl S. Warren
8th edition
1305961889, 978-1337517386, 1337517380, 978-1305961883
