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The following list of accounts is from the adjusted trial

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The following list of accounts is from the adjusted trial balance for Swirsky Corporation:Accounts
payableAccounts receivableAccumulated depreciationAdministrative
expensesBuildingsCashCommon sharesEquipmentIncome tax expenseInterest expenseInterest
payableLandMerchandise inventoryMortgage payablePrepaid insuranceProperty tax
payableSalaries payableSalesSales discountsSales returns and allowancesUnearned
revenueInstructionsFor each account, identify whether it should be reported on the statement of
financial position or income statement. Also specify where the account should be classified. For
example, Accounts Payable would be classified under current liabilities on the statement of
financial position.View Solution:
The following list of accounts is from the adjusted trial

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