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S Mobol, a wireless phone carrier, completed its first year of operations on October 31. All of the year's entries have been recorded, except for the following a. At year-end, employees earned wages of $3,800, which will be paid on the next payroll date, November 13. b. At year-end, the company had earned interest revenue of $2,800. It will be collected December 1. Required: 1. What is the annual reporting period for this company? O November 1 through October 31 O April 1 through December 31 O April 1 through March 31 2. Identify whether each required adjustment is a deferral or an accrual. Both transactions are accruals Both transactions are deferral O First transaction is accrual O First transaction is deferral

Mobol, a wireless phone carrier, completed its first year of operations on October 31. All of the year's entries have been recorded, except for the following a. At year-end, employees earned wages of $3,800, which will be paid on the next payroll date, November 13 b. At year-end, the company had earned interest revenue of $2,800. It will be collected December 1 Required: 1. What is the annual reporting period for this company? November 1 through October 31 April 1 through December 31 April 1 through March 31 2. Identify whether each required adjustment is a deferral or an accrual Both transactions are accruals Both transactions are deferral First transaction is accrual First transaction is deferral The following transactions were selected from among those completed by Bear's Retail Store Nov, 20 Sold two itees of merchandise to Cheryl Jahn, who paid the $1,400 sales price in cash. The goods cost Bear's $5ee. 25 sold 20 itens of merchandise to Vasko Athletics at a selling price of 56,009 (total); teras 3/19, A/30, The goods cost bear's 53,509 . 28 sold 10 identical items of merchandise to Nancy's oym at a selling price of 58, eoe (total); terms J/10, n/3a. The goods cost Bear's 16,600 . 29 Nancy's Gym returned one of the itens purchased on the 25th. The item was in perfect condition, and credit was given to the customer, Dec. 6 Nancy's Gym paid the account balance in full. 3e Vasko Athletics paid in full for the invoice of Novenber 25. Required: Assuming that Sales Returns and Sales Discounts are reported as contra-revenues, compute Net Sales for the two months ended December 31 (Round your intermediate calculation and final answer to nearest whole dollar amount)

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