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Unformatted text preview: than book value F. Merchandise is sold on credit G. Payment is made to trade creditors for previous purchases H. A cash dividend is declared and paid I. Cash is obtained through short-term bank loans J. Short-term notes receivable are sold at a discount K. Marketable securities are sold below cost L. Advances are made to employees M. Current operating expenses are paid N. Short term promissory notes are issued to trade creditors in exchange for past due accounts payable + + + + -- + + + --+ + + + + + -+ -- -- + -- -- -- ---- -- --0 0 O. Ten-year notes are issued to pay-off accounts payable P. A fully depreciated asset is retired Q. Accounts receivable are collected R. Equipment is purchased with short term notes S. Merchandise is purchased on credit T. The estimated taxes payable are increased-- -- --...
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- Spring '11
- Corporate Finance