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University Of Cincinnati Operations And Supply Chain Management Assignment Help - Intermediate accounting

Question - Listed below are account balances (in $millions) taken from the records of Symphony Stores. All of
these are permanent accounts, except the last two that have yet to be closed. The installment
receivables are current. Symphony uses a perpetual inventory system.
Debit Credit
Accounts receivable-trade 680
Building and equipment 920
Cash-checking 34
Installment receivable 50
Interest receivable 30
Inventory 16
Land 150
Notes receivable Long-term 450
Petty cash funds 5
Prepaid expenses (for coming year) 20
Supplies 8
Trademark 40
Accounts payable-trade 560
Accumulated depreciation 80
Additional paid-in capital, common 485
Alowance for uncollectivle accounts 20
Cash dividends payable 30
Common stock, at par 15
Income tax pa ...Read More

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