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On January 1, 2012, Lexmark Company's Accounts receivable account had a debit balance of $10,000. During January, 2012, the company billed customers for services in the amount of $300,000. Also during January, the company collected $240,000 from its customers on account. What was the balance in the Accounts receivable account at the end of January? A) $60,000 B) $250,000 C) $70,000 D) $10,000
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Acme Inc. has total liabilities of $120,000, total sales of $80,000, net income of $12,000, current assets of $90,000 and total assets of $150,000. What is the debt to equity rat
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Objective of Eight non-profit organization engaged in the conservation forest and wild animals
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Determine the concept of Closing entries-(REID) 1) Close Sales account and other income statement accounts with credit balances to Income Summary. 2) Close each expense ac
how we prepare ledger account and trial balance?
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