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Business, 15.07.2019 22:20 QueenElizabeth353

Bon nebo co. sold 25,000 annual subscriptions of magazine 20xx for $85 during december 2018. these new subscribers will receive monthly issues, beginning in january
2019. in addition, the business had taxable income of $840,000 during the first calendar quarter of 2019. the federal tax rate is 40%. a quarterly tax payment will be made
on april 12, 2019
prepare the current abilities section of the balance sheet for bon nebo co. on march 31, 2019
bon nebo co.
current liabilities section of balance sheet
march 31, 2019
federal income taxes payable
advances on magazine subscriptions
total current liabilities

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