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Unformatted text preview: Interest will be paid annually at 11%, beginning in 2009. (Round your amount to nearest dollar.) The company delivered cruise ship tickets to a customer on December 31, 2008. The $5,000 bill for the tickets was sent out to the customer on January 5, 2009. The company offers monthly travel packages to customers. Customers pay for these packages in advance. As of December 31, 2008, two-thirds of the $120,000 collected from customers for these monthly packages has been earned. REQUIRED: Prepare the required adjusting entries, showing all calculations (if necessary). You may omit the journal entry explanations. Assume that any originating entries were properly made....
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This note was uploaded on 04/18/2009 for the course MGA 201 taught by Professor Anderson during the Fall '08 term at SUNY Buffalo.
- Fall '08