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Problem - Exposure from stolen ATM card. Suppose that someone stole your ATM card and withdrew $1,000 from your checking account. How much money could you lose (according to federal legislation) if you reported the stolen card to the bank:
(a) the day the card was stolen,
(b) 6 days after the theft,
(c) 65 days after receiving your periodic statement?
Record the journal entries for the above transactions. How much net income did the company earn during 2016
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How will the information be useful in your other classes and in your career
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