For the just completed year, Strident Company had net income of $51,500. Balance

Question

For the just completed year, Strident Company had net income of $51,500. Balances in the company%u2019s current asset and current liability accounts at the beginning and end of the year were as follows:

December 31

The Accumulated Depreciation account had total credits of $50,000 during the year.

For the just completed year, Strident Company had net income of $51,500. Balances in the company%u2019s current asset and current liability accounts at the beginning and end of the year were as follows:

Explanation / Answer

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