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Selected accounts and related amounts for Case-It Co. for the fiscal year ended November 30, 2010, are presented in Problem 6-1A.
Instructions
1. Prepare a single-step income statement in the format shown in Exhibit 3.
2. Prepare a statement of owner's equity.
3. Prepare an account form of balance sheet, assuming that the current portion of the note payable is $8,000.
4. Prepare closing entries as of November 30, 2010.
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