Complete Problem 4-4A on page 315 and Problem 4-5A on page 316 on a piece...
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Accounting
Complete Problem 4-4A on page 315 and Problem 4-5A on page 316 on a piece of paper and then answer the following questions. What is the current portion of the Long-Term Notes Payable? Answer 1 $125,000 What is the opening balance of the Owners' Capital account at January 1, 2020? Answer 2 Choose... In Step 3 of the closing entries what was the amount posted to the Capital account to close out the Income Summary account? Answer 3 Choose... In Step 1 of the closing entries what was the total amount posted to the Income Summary account when closing the revenue account(s)? Answer 4
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