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Refer to Scenario 9.6 below to answer the question(s) that follow.
SCENARIO 9.6: Celeste borrowed $40,000 from her brother to open a car wash. She pays her brother a 5% yearly return on the money he lent her. Her other yearly fixed costs equal $18,000. Her variable costs equal $40,000. In her first year, Amy sold 40,000 car washes at a price of $2.50 per car wash.
-Refer to Scenario 9.6. Celeste's total fixed costs equal
Trial Balance
A worksheet used in accounting that compiles all ledger balances into matching total amounts in debit and credit columns.
Debit Totals
An aggregate amount of all debits recorded in an accounting period, indicating resources used or expenses.
Credit Totals
The sum of all credit entries made in the accounting ledger, used in balancing the books.
Patents
Exclusive rights to produce and sell goods with one or more unique features.
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