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The scientists at Argon Labs all received large travel advances for an upcoming conference in Zurich. What should the accountant do to report these correctly?
The scientists at Argon Labs all received large travel advances for an upcoming conference in Zurich. What should the accountant do to report these correctly? O Determine if the advance will be deducted from their salary or collected from the employee. In those cases, report them as receivables; otherwise, report them as prepaid expenses. O Determine if the advances are greater than the normal amounts of petty cash. If they are less, then report them as cash; if they are greater, report them as a prepaid expense. O Wait until after the conference and then report them as an operating expense. O Wait until the conference is underway and then report them as cash
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