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George Bailey Corporation experienced a fire on December 31 2013 in which its financial records were partially destroyed It has been able to salvage some of the records and has ascertained the

George Bailey Corporation experienced a fire on December 31, 2013, in which its financial records were partially destroyed. It has been able to salvage some of the records and has ascertained the following balances. December 31, 2013 December 31, 2012 Cash $ 30,000 $ 10,000 Receivables (net) 72,500 126,000 Inventory 200,000 180,000 Accounts payable 50,000 90,000 Notes payable 30,000 60,000 Common stock, $100 par 400,000 400,000 Retained earnings 113,500 101,000 Additional information:

 

Aug 20 2020 View more View Less

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