CHAPTERS 3 AND 9—ADJUSTING ENTRIES AND …

a Accounts payable balance $61,000 Add: Cash disbursements $39,000 Purchase invoice omitted ($27,000 – $12,000) 15,000 54,000 Adjusted accounts payable $115,000 b Notes payable balance $ 67,000 Less: Proceeds of bank loan 12,000 Adjusted notes payable $ 55,000 ................
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