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6 Exercise 9-24(Algo) Complete the accounting cycle using long-term liabilitiy transactions (LO9-2,9-8)(GL) ...

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Accounting

6
Exercise 9-24(Algo) Complete the accounting cycle using long-term liabilitiy transactions (LO9-2,9-8)(GL)
On January 1,2024, the general ledger of Freedom Fireworks includes the following account balances:
\table[[Accounts,Debit,Credit],[Cash,$11,800,],[Accounts Receivable,35,200,],[Allowance for Uncollectible Accounts,,],[Inventory,152,600,],[Land,73,300,],[Buildings,126,000,],[Accumulated Depreciation,,10,200],[Accounts Payable,,24,300],[Common Stock,,156,000],[Retained Earnings,,$398,900No
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