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1)Why is a bank more likely to offer you credit if you have a co-signer with good credit? 2)While examining cash receipts information, the accounting department determined the following information: opening cash balance = $150, cash on hand = $1

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1)Why is a bank more likely to offer you credit if you have a co-signer with good credit?

2)While examining cash receipts information, the accounting department determined the following information: opening cash balance = $150, cash on hand = $1.125.74, and cash sales per register tape = $995.62. Prepare the required journal entry based upon the cash court sheet.