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Which of the following items should normally be classified as a current liability for Prairie Brewing Company? Prairie has a 15-month operating cycle. a. A

Which of the following items should normally be classified as a current liability for Prairie Brewing Company? Prairie has a 15-month operating cycle. a. A note payable due in 18 months. b. Salaries payable. c. A payable that matures in two years. d. A note payable due in 10 months. e. The portion of a long-term note that is due to be paid in 12 months. Question # 2 If Simran Make-up sells $5,600 of make up (merchandise with a cost of $4,800) for cash on September 30. The sales tax law requires Simran to collect 13% harmonized sales tax on every dollar of merchandise sold. Record Simran's entries for the $5,600 sale and applicable sales tax. Question # 3

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