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Unformatted text preview: because inventory is less liquid than accounts receivable. Music World Partial Balance Sheet June 30, 20XX ASSETS Current Assets Cash $10,000 Accounts Receivable 2,000 Inventory 37,000 Supplies 1,000 Prepaid Insurance 2,000 Total Current Assets $52,000 Merchandising companies also have several specific income statement accounts designed to provide detailed information about revenues and expenses associated with salable merchandise....
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This note was uploaded on 11/14/2011 for the course ACCT 1310 taught by Professor Staff during the Fall '10 term at Texas State.
- Fall '10