SRJ Corporation entered into the following transactions: The accrual of interest expense on a six-month note payable. Collected cash for services to be provided within the next six months. • The reclassification of short-term debt to long-term debt. Which of the transactions for SRJ Corporation resulted in a decrease in working capital?

SRJ Corporation entered into the following transactions: The accrual of interest expense on a six-month note payable. Collected cash for services to be provided within the next six months. • The reclassification of short-term debt to long-term debt. Which of the transactions for SRJ Corporation resulted in a decrease in working capital?

Name: SRJ Corporation entered into the following transactions:The accrual o
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Description: SRJ Corporation entered into the following transactions:The accrual of interest expense on a six-month note payable.• Collected cash for services to be provided within the next six months.The reclassification of short-term debt to long-term debt.Whi

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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Caring enterprises had the following account balances on Decrmber 31, 2020; Cash in BPI Bank- 2,250,000; Cash allowed for the acquisition of machinery- 1,600,000; Revolving Fund- 125,000. Cadh in Bank included 600,000 of compensating balance against short-term borrowing arrangement. The compensating balance is not legally restricted as to withdrawal. That total amount should be reported as cash on December 31, 2020
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