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Give the entry to record the proceeds

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Q1. Jensen Company has cash proceeds from sales of $8,400. This amount includes $400 of sales taxes. Give the entry to record the proceeds.

Q2. Describe the two major obligations incurred by a company when bonds are issued.

Q3. In general, what are the requirements for the financial statement presentation of long-term liabilities?

Q4. What is liquidity? What are two measures of liquidity?

Reference no: EM133188856

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