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National Supplies Corporation Has the Following Selected Accounts at December

Question 16

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National Supplies Corporation has the following selected accounts at December 31, 2018 after posting adjusting entries: National Supplies Corporation has the following selected accounts at December 31, 2018 after posting adjusting entries: Instructions a. Prepare the current liability section of National Supplies' statement of financial position, assuming $24,000 of the mortgage is payable next year. b. Comment on National Supplies' liquidity, assuming total current assets are $225,000. Instructions
a. Prepare the current liability section of National Supplies' statement of financial position, assuming $24,000 of the mortgage is payable next year.
b. Comment on National Supplies' liquidity, assuming total current assets are $225,000.

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