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Unformatted text preview: Question 1 (1 point) The term "retained earnings" is Student response: Student Response Answer Choices a. representative of the cash that the corporation has available to pay dividends as of the balance sheet date b. found among the assets on the balance sheet of any profitable corporation c. always as large or larger than Cash on the balance sheet d. an account balance found on the balance sheet of a corporation that has represents accumulated earnings of the corporation which could be used to pay dividends at some future date. Score: 1 / 1 Question 2 (1 point) Javelin Sports sold $50,000 face value of ten-year, 8% bonds payable for $61,583 on January 1, 2007 when the market interest rate was 5%. What amount of interest expense will Javelin report for calendar year 2007? Student response: Student Response Score: 0 / 1 Question 3 (1 point)...
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