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True or False
1. Cash in the chart of accounts is an example of a control account.
2. It is normal to have a debit balance in the allowance for doubtful accounts account after adjusting journal entries at the end of the year.
3. The practice of selling a note receivable before maturity is called dishonouring the note.
4. An unearned revenue arises when a company receives cash from its customers in advance of earning the revenue.
5. The Cash Short and Over account is debited when sales revenue exceeds cash receipts.
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