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Use the following information to prepare a classified balance sheet for Alpha Co. at the end of Year 1. Accounts receivable $ 42,720 Accounts payable
Use the following information to prepare a classified balance sheet for Alpha Co. at the end of Year 1.
| Accounts receivable | $ | 42,720 | |
| Accounts payable | 7,740 | ||
| Cash | 15,420 | ||
| Common stock | 41,500 | ||
| Land | 29,100 | ||
| Long-term notes payable | 20,400 | ||
| Merchandise inventory | 31,975 | ||
| Retained earnings | 49,575 | ||
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Computers Electronics And High Tech Industry Irs Audit Techniques Guide
Authors: Internal Revenue Service
1st Edition
1304133834, 978-1304133830
