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Business, 24.10.2019 01:30 yoopp

Piper company records a year-end entry for $10,000 of previously unrecorded cash sales (costing $5,000) and its sales taxes at a rate of 4%. the company earned $50,000 of $125,000 previously received in advance and originally recorded as unearned services revenue. prepare any necessary adjusting entries at december 31, 2017, for piper company's year-end financial statements for each of the above separate transactions and events. (piper has the policy of recording cash received in advance in balance sheet accounts.)

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Piper company records a year-end entry for $10,000 of previously unrecorded cash sales (costing $5,0...
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