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Music Mart Case 2-2
Essay specific features
Written by:
Estelle B
Date added:
October 12, 2013
Level:
University
Grade:
A
No of pages / words:
2 / 485
Was viewed:
3180 times
Rating of current essay:
Essay content:
Increase Inventory 5,000; increase Accounts Payable 5,000
2. Decrease Inventory 1,500; increase Cash 2,300; increase Retained Earnings 800
3. Decrease Inventory 1,700; increase Accounts Receivable 2,620; increase Retained Earnings 920
(Note that Retained Earnings increases whether or not the proceeds of the sale are received in cash...
displayed 300 characters
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Decrease Inventory 1,500; increase Cash 2,300; increase Retained Earnings 800
3. Decrease Inventory 1,700; increase Accounts Receivable 2,620; increase Retained Earnings 920
(Note that Retained Earnings increases whether or not the proceeds of the sale are received in cash.)
4. Increase Prepaid Insurance 1,224; decrease Cash 1,224
(Note that current practice is to treat this as a current asset even though the policy is in effect three years; the basis is materiality...
displayed 300 characters
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