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Prepare a classified balance sheet

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Clear Water Co. reports the following balance sheet accounts as of December 31.

Buildings  $62,500

Accounts receivable 3,500L

26,000

Merchandise inventory 10,000

Accounts payable   6,500

Cash  11,000

Notes payable (due in 7 years) 60,000

Office supplies 4,000O.

Water, Capital  46,000

Wages payable 4,500

Required:

Question 1: Prepare a classified balance sheet.

Reference no: EM132498756

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