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TIF 4-1 Loan to Company President New Wave Images is a graphics design firm that prepares its financial statements using a calendar year. Manny

TIF 4-1 Loan to Company President New Wave Images is a graphics design firm that prepares its financial statements using a calendar year. Manny Kinn, the company treasurer and vice president of finance, has prepared a classified balance sheet as of December 31. In January, this balance sheet will be submitted along with an application for a loan from First Peoples Community Bank. An excerpt from the balance sheet follows: Cash Accounts receivable Total assets

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