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On July 9, Muffler Company receives an $8,500, 90-day, 8% note from customer Summers Paxtonas payment on account. What entry should be made on the maturity date assuming the maker pays in full, and no adjusting entries have been made related to the note? (Use 360 days a year.)

A general journal is:

McLean Corporation’s sales in Year 1 were $396,000 and in Year 2 were $380,000. Using Year 1 as the base year, the percent change for Year 2 compared to the base year is:

Common uses of the statement of cash flows include all but which of the following?

Investing activities are the acquiring and disposing of resources that an organization uses to acquire and sell its products or services.

Accrued revenues:

Analysis of a single financial number is often of limited value.

Standards for comparison when interpreting financial statement analysis include competitor and industry performance data.

The journal is known as a book of original entry.

Liabilities are owner claims on assets.