Question
The following financial information is from Sunny Corporation: Accounts Payable $42,000 Land $120,000 Inventory $10,000 Accounts Receivable $14,000 Equipment $12,000 Deferred Revenue $58,500 Notes
The following financial information is from Sunny Corporation: Accounts Payable $42,000 Land $120,000 Inventory $10,000 Accounts Receivable $14,000 Equipment $12,000 Deferred Revenue $58,500 Notes Payable (due in 2 years) $20,000 Notes Receivable (due in 8 months) $45,500 Interest Payable $2,000 Trademarks $75,000 What is the total amount of long-term assets assuming the accounts above reflect normal activity?
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Advanced Accounting
Authors: Gail Fayerman
1st Canadian Edition
9781118774113, 1118774116, 111803791X, 978-1118037911
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