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X Company prepares monthly financial statements. In March, itsaccountant recorded entries as follows:

-made an adjusting entry for $1,614 of unpaid interest on a bankloan

-recorded $4,179 for wages paid

-made an adjusting entry for $597 of wages that were earned byemployees but not paid

-made an adjusting entry for $1,410 of insurance that hadexpired

-recorded $1,590 that was received from a customer formerchandise that X Company special ordered and agreed to deliver inApril.

As a result of these entries, total equities decreased by

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Keith Leannon
Keith LeannonLv2
28 Sep 2019

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