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Business, 01.07.2020 15:01 kay8739

Riverrun Co. provides medical care and insurance benefits to its retirees. In the current year, Riverrun agrees to pay $45,500 for medical insurance and contribute an additional $10,000 to a retirement program. 1. Record the entry for these accrued (but unpaid) benefits on December 31.
2. Assuming $5,500 of the retirement benefits are not to be paid for five years, how should this amount be reported on the current balance sheet?

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Riverrun Co. provides medical care and insurance benefits to its retirees. In the current year, Rive...
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