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COMPREHENSIVE PROBLEM 2
Music-Is-Us, Inc., is a supplier of musical instruments for professional and amateur musicians. The company's accountants make adjusting entries monthly, and they make all closing entries annually. The company is growing rapidly and prides itself on having no long-term liabilities.
The company has provided the following trial balance dated December 31, 2015:
Other information pertaining to the company's trial balance is shown below:
All tabs completed till ratio cash conversion cycle in the provided template