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    kayyxo's Avatar
    kayyxo Posts: 1, Reputation: 1
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    #1

    Jan 24, 2008, 10:16 PM
    Original and adjusting entries
    Original and Adjusting ENtries for the following:

    1. The income taxes payable for 2009 were paid (3200)
    2. At year end, an additional 4000 of sales salaries are owed, but have not yet been paid
    lulu02's Avatar
    lulu02 Posts: 1, Reputation: 1
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    #2

    Jan 26, 2008, 01:57 PM
    The 2003 accrual-basis income statement for Mason Corporation reports sales revenue of $10,000. The related balance sheet accounts for the beginning and end of the year were:


    Jan 1, 2003 Dec 31, 2003
    Unearned Sales Revenue $0 $500
    Accounts Receivable $500 $2,500

    Based on this information, the amount of cash collected during 2003 from Mason's customers was:
    A. $8,500
    B. $8,000
    C. $9,000
    D. $10,000
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