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ACC 291T Week 5 Discussion//tutorfortune.com<br><br>Click on below link to buy<br>https://tutorfortune.com/products/acc-291t-week-5-discussion<br><br>ACC 291T Week 5 Discussion<br> <br><br>Review the Discussion FAQs Module.<br><br>Respond to the following:<br><br>It is standard accounting procedure, or a generally accepted accounting principle (GAAP), to make a journal entry to remove the current yearu2019s principle from the long-term liabilities. This entry reduces the long-term liabilities and increases the current liabilities.<br><br>Your company has a bank loan that requires a current ratio of 1.5 times. The owner has asked you, the bookkeeper, not to make the adjusting entry that would take the current portion from the long-term liabilities. If you make the adjusting entry, the companyu2019s loan will need to be repaid immediately (or the loan called). What should you do?<br>ACC 291T Week 5 Discussion<br><br>Click on below link to buy<br>https://tutorfortune.com/products/acc-291t-week-5-discussion<br>
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ACC 291T Week 5 Discussion//tutorfortune.com Click on below link to buy https://tutorfortune.com/products/acc-291t-week-5-discussion A C C 2 9 1 T We e k 5 D i s c u s s i o n R e v i e w t h e D i s c u s s i o n F A Q s Mo d u l e . R e s p o n d t o t h e f o l l o w i n g : I t i s s t a n d a r d a c c o u n t i n g p r o c e d u r e , o r a g e n e r a l l y a c c e p t e d a c c o u n t i n g p r i n c i p l e ( G A A P ) , t o ma k e a j o u r n a l e n t r y t o r e mo v e t h e c u r r e n t y e a r ’ s p r i n c i p l e f r o m t h e l o n g - t e r m l i a b i l i t i e s . T h i s e n t r y r e d u c e s t h e l o n g - t e r m l i a b i l i t i e s a n d i n c r e a s e s t h e c u r r e n t l i a b i l i t i e s . Y o u r c o mp a n y h a s a b a n k l o a n t h a t r e q u i r e s a c u r r e n t r a t i o o f 1 . 5 t i me s . T h e o w n e r h a s a s k e d y o u , t h e b o o k k e e p e r , n o t t o ma k e t h e a d j u s t i n g e n t r y t h a t w o u l d t a k e t h e c u r r e n t p o r t i o n f r o m t h e l o n g - t e r m l i a b i l i t i e s . I f y o u ma k e t h e a d j u s t i n g e n t r y , t h e c o mp a n y ’ s l o a n w i l l n e e d t o b e r e p a i d i mme d i a t e l y ( o r t h e l o a n c a l l e d ) . Wh a t s h o u l d y o u d o ? A C C 2 9 1 T We e k 5 D i s c u s s i o n Click on below link to buy https://tutorfortune.com/products/acc-291t-week-5-discussion
