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Required: Prepare a classified balance sheet at December 31,2024, by updating ending balances from...

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Accounting

Required:
Prepare a classified balance sheet at December 31,2024, by updating ending balances from 2023 for transactions during 2024 and the additional information. The cost of furniture and fixtures and their accumulated depreciation are shown separately.
Note: Amounts to be deducted should be indicated by a minus sign.
\table[[KORVER SUPPLY COMPANY],[Balance Sheet],[At December 31,2024],[Assets],[Current assets:],[Cash,$,168,000],[Accounts receivable,,320,000],[Inventory],[Total current assets,,488,000],[Property, plant, and equipment:],[Furniture and fixtures],[Accumulated depreciation],[Net property, plant, and equipment,,0],[Total assets,$,488,000],[Liabilities and Shareholders' Equity],[Current liabilities:],[Accounts payable],[Notes payable],[Interest payable,,]]

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