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Accounting Cycle Exercises IV
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Alberto Condor has an eye for quality. He recently formed an art gallery where he allows artists to display their artwork for sale. Customers buy the artwork through the gallery, but payments are actually made payable directly to the originating artist. Artists, in turn, pay Albert a 20% commission that is appropriately reflected as revenue of the gallery.
Following is Albert’s trial balance after the first year of operation. This trial balance does not reflect the adjustments that are necessary, as described by the additional information.
Larry M. Walther & Christopher J. Skousen - Personal Name
4th Edititon
978-87-7681-644-5
NONE
Accounting Cycle Exercises IV
Management
English
2010
1-50
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