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Question
jennifers noel shoppe had severe damage done to its christmas inventory due to an escaped circus elephant rampaging through the store. the inventory loss was $120,000 before applicable taxes of $30,000. jennifers noel shoppe should record the loss as a(n)
a.$120,000 loss in other expenses and losses
b.$120,000 extraordinary loss
c.$90,000 extraordinary loss
d.$150,000 extraordinary loss
Answer
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