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    HIGHLANDS GOLF INC.

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    A) Journalize the adjusting entries that were made.
    (b) Prepare an income statement and a retained earnings statement for the 3 months
    ending September 30 and a classified balance sheet at September 30.
    (c) Identify which accounts should be closed on September 30.
    (d) If the note bears interest at 12%, how many months has it been outstanding?

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    HIGHLANDS GOLF INC.

    a) Journalize the adjusting entries that were made.
    (b) Prepare an income ...

    Solution Summary

    This solution is comprised of a detailed explanation to journalize the adjusting entries that were made.

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