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Find the Midrange for the Given Sample Data

question 152

Essay

Find the midrange for the given sample data.
-A comparison is made between summer electric bills of those who have central air and those who have window
units.  May June July  Aug  Sept  Central $32$64$80$90$65 Window $15$84$99$120$40\begin{array}{lllllll} & \text { May June July } & \text { Aug } & \text { Sept } \\\text { Central } & \$ 32 & \$ 64 & \$ 80 & \$ 90 & \$ 65 \\\text { Window } & \$ 15 & \$ 84 & \$ 99 & \$ 120 & \$ 40\end{array}

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Definitions:

Equity

The residual interest in the assets of an entity after deducting liabilities, representing ownership interest in the company.

Accounts Payable

Liabilities owed by a business to its suppliers or creditors for goods or services received but not yet paid for.

T-account

A graphical representation of a general ledger account that outlines the effects of transactions on account balances.

Debit

An accounting entry that results in either an increase in assets or a decrease in liabilities on a company's balance sheet.

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