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Allapacan Company had the following consignment transactions during 2005:
Inventory shipped on consignment to Benguet Company, consignee P600,000
Freight paid by Allapacan 50,000
Inventory received on consignment from Ifugao, consignor 800,000
Freight paid by Ifugao 50,000
Problem 1: No sales of consigned goods were made through December 31, 2005. In its December 31, 2005 balance sheet, Allapacan should include consigned inventory of?
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Apr. 14 Zing paid $30,000 cash and replaced the $120,000 remaining balance of account payable. Determine the maturity dates of the three notes just described.
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