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Identifying Current Assets and Liabilities
Dunn Sporting Goods sells athletic clothing and footwear to retail customers. Dunn's accountant indicates that the firm's operating cycle averages 6 months. At December 31, 2019, Dunn has the following assets and liabilities:
Required:
Question a: Prepare the current asset and current liability portions of Dunn's December 31, 2019, balance sheet.
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