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BNL completed a performance and collected revenue of $8,000 not previously billed or recorded. The journal entry to record the collection would be:
Insolvent
The state of being unable to pay debts owed, with liabilities exceeding assets.
Fraudulently
Fraudulently means acting in a way intended to deceive or cheat, typically for personal or financial gain.
Target Corporation
An American retail corporation that operates large-format stores selling a wide variety of goods including household essentials, electronics, and apparel.
Control
The power to influence or direct people's behavior or the course of events.
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