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Estimated warranty - PowerPoint PPT Presentation

Current Liabilities and Payroll

Current Liabilities and Payroll. Chapter 10. Objective 1. Account for current liabilities of known amount. Accounts Payable. Amounts owed for products or services purchased on account. Short-Term Notes Payable. Promissory notes payable due within one year Interest expense is recognized

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Current Liabilities and Payroll

Current Liabilities and Payroll. Chapter 11. Objective 1. Account for current liabilities of known amount. Accounts Payable. Amounts owed for products or services purchased on account. Short-Term Notes Payable. Promissory notes payable due within one year Interest expense is recognized

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600 views • 40 slides

Sources of Capital: Debt

8. Sources of Capital: Debt. Liability. Definition : Obligation to an outside party Arises from a transaction or an event that has already happened Estimated warranty is an example of a liability that is not a definite obligation:

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Estimated warranty - PowerPoint PPT Presentation

Current Liabilities and Payroll

Current Liabilities and Payroll

Sources of Capital: Debt