EXERCISE 13-2 - EXERCISE 13-2 (1520 minutes) (a) Sept. 1...

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EXERCISE 13-1 (10–15 minutes) (a) Current liability. (b) Current liability. (c) Current liability or long-term liability depending on term of warranty. (d) Current liability. (e) Footnote disclosure (assume not probable and/or not reasonably estimable). (f) Current liability. (g) Current or noncurrent liability depending upon the time involved. (h) Current liability. (i) Current liability. (j) Current liability. (k) Current liabilities or long-term liabilities as a deduction from face value of note. (l) Current liability. (m) Current liability. (n) Current liability. (o) Footnote disclosure. (p) Separate presentation in either current or long-term liability section.
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Unformatted text preview: EXERCISE 13-2 (1520 minutes) (a) Sept. 1 Purchases. ............................................. 50,000 Accounts Payable. ....................... 50,000 Oct. 1 Accounts Payable. ................................ 50,000 Notes Payable. ............................. 50,000 Oct. 1 Cash. ....................................................... ................................................................ 75,000 Discount on Notes Payable. ................. 6,000 Notes Payable. ............................. 81,000...
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EXERCISE 13-2 - EXERCISE 13-2 (1520 minutes) (a) Sept. 1...

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