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Which of the following items are normally classified as current liabilities for a company that has a one-year operating cycle? Note: You may select more
Which of the following items are normally classified as current liabilities for a company that has a one-year operating cycle? Note: You may select more than one answer. Single click the box with the question mark to produce a check mark for a correct answer and double click the box with the question mark to empty the box for a wrong answer. Any boxes left with a question mark will be automatically graded as incorrect. ? Loan due in 18 months. Bank debt due in 5 years. Bonds payable due in 15 years. Portion of long-term note due in 1 month. Sales taxes payable. Portion of long-term note due in 10 months. Chavez Company's salaried employees earn four weeks' vacation per year. Chavez estimated and must expense $6,500 of accrued vacation benefits for the year. (a) Prepare the December 31 year-end adjusting entry for accrued vacation benefits. (b) Prepare the entry on April 1 of the next year when an employee takes a one-week vacation and is paid $490 cash for that week. Journal entry worksheet Record the vacation benefits accrued. Note: Enter debits before credits. Chavez Company's salaried employees earn four weeks' vacation per year. Chavez estimated and must expense $6,500 of accrued vacation benefits for the year. (a) Prepare the December 31 year-end adjusting entry for accrued vacation benefits. (b) Prepare the entry on April 1 of the next year when an employee takes a one-week vacation and is paid $490 cash for that week. Journal entry worksheet Note: Enter debits before credits. luprey Company is the defendant in the following legal claims. For each of the following separate claims, indicate whether Huprey hould (a) record a liability, (b) disclose in notes, or (c) have no disclosure
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