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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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