ANSWERS TO QUESTIONS

Financial Statement. Lance Livestrong Company Balance Sheet December 31, 2007 Assets Current assets Cash ($50,000 – $20,000) $30,000 Accounts receivable ($38,500 + $13,500) $ 52,000 Less: Allowance for doubtful accounts 13,500 38,500 Inventories 65,300 Total current assets 133,800 Long-term investments Plant expansion fund 20,000 Property ... ................
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