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the options for the boxes are accounts payable sales tax payable unearned recenue not a liabilty Consider the following situations and determine (1) which type
the options for the boxes are
Consider the following situations and determine (1) which type of ability should be recognized (specific account), and (2) how much should be recognized in the current period (year). A. A business sets up a line of credit with a supplier. The company purchases $12,000 worth of equipment on credit. Terms of purchase are 5/10, 1/30. B. A customer purchases a watering hose for $30. The sales tax rate is 5% Round your answer to two decimal places. C. Customers pay in advance for season tickets to a soccer game. There are 18 customers, each paying $270 per season ticket. Each customer purchased two season tickets D. A company issues 2,300 shares of its common stock with a price per share of $20 accounts payable
sales tax payable
unearned recenue
not a liabilty
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