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Refer to Part (C)

question 120

Essay

Refer to part (c). Assume that $2,000 of the amount written off was subsequently collected on October 28, 2021. Prepare the required entry(ies) on October 28, 2021.


Definitions:

Minerals

Naturally occurring inorganic substances with a definite chemical composition and crystalline structure, vital for various biological and industrial processes.

Sediment

Particulate material that is transported and deposited by wind, water, or ice, often forming layers on the Earth's surface.

Red Algae

A group of primarily aquatic, photosynthetic organisms, known for their reddish pigmentation and importance in marine ecosystems.

Billion Years

A unit of time used in geology, astronomy, and evolutionary biology, among other fields, to describe extremely long periods in Earth's history or the history of the universe.

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