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Unformatted text preview: (2) Payments (usually cash) are exchanged for reductions in the informal obligations: Assets Liabilities Equity-Cash -Acct Pay* Accts Payable changes over time as follows:-AP t = -AP t-1 Purchases t + AP PMTS t or AP t = AP t-1 + Purchases t * AP PMTS t Measured based on HEP Principle * Net of adjustments and returns...
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This note was uploaded on 04/18/2011 for the course BUS 311 taught by Professor Palmer during the Winter '11 term at Indiana.
- Winter '11