As of December 31, Year 1, Moss Company had total cash of $160,000, notes payable...
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Accounting
As of December 31, Year 1, Moss Company had total cash of $160,000, notes payable of $86,000, and common stock of $52,800. During Year 2, Moss earned $40,000 of cash revenue, paid $22,000 for cash expenses, and paid a $3,400 cash dividend to the stockholders.
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