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Hemple Co. maintains escrow accounts for various mortgage companies. Hemple collects the receipts and pays the bills on behalf of the customers. Hemple holds the escrow monies in interest-bearing accounts. They charge a 10% maintenance fee to the customers based on interest earned. Hemple reported the following account data:
What amount represents the escrow liability balance on Hemple's books? A. $290,000 B. $286,000 C. $214,000 D. $210,000 |
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