[The following information applies to the questions displayed below Tungsten Company, Inc., sells heavy construction...
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[The following information applies to the questions displayed below Tungsten Company, Inc., sells heavy construction equipment. There are 12,000 shares of capital stock outstanding. The annual fiscal period ends on December 31. The following condensed tria balance was taken from the general ledger on December 31, Current Year: Account Titles Credit $33,800 14,500 52,300 41,000 Accounts receivable (net) Inventory, ending Operational assets Accumulated depreciation Liabilities Capital stock Retained earnings, January 1, Current Year Sales revenue Sales returns and allowances $17,900 25,000 72,100 15,780 148,900 80,200 16,100 15,900 3,000 7,900 8,680 $ 279,680 Administrative expense Bad debt expense Totals 279,680
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