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The Calendar Year-End Adjusted Trial Balance for Acosta Co

Question 7

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The calendar year-end adjusted trial balance for Acosta Co.follows:
The calendar year-end adjusted trial balance for Acosta Co.follows: Required: a.Prepare a classified year-end balance sheet.(Note: A $7,000 installment on the long-term note payable is due within one year.) b.Calculate the current ratio.
Required:
a.Prepare a classified year-end balance sheet.(Note: A $7,000 installment on the long-term note payable is due within one year.)
b.Calculate the current ratio.

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