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during the current year, Tachnic, Inc., made cash sales of $289,000 and credit sales of $472,000. During the year, accounts receivable decreased by $32,000.
a. Compute for the current year the amount of:
1. Net sales reported as revenue in the income statement.
2. Cash received from collecting accounts receivable.
3. Cash received from customers.
b. Write a brief statement explaining why cash received from customers differs from the amount of net sales.
problem 12-8 at dec 31 2013 the investments in securities available-for-sale of beale developments were reported at 78
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Prepare the entries for Todd Company for the purchase of the stock, share of McGuire income and dividends received from McGuire.
Journalize the following transactions for the seller, Mitchell Company, using the gross method to account for sales discounts. Assume a perpetual inventory system. Make sure to enter the day for each separate transaction.
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the federation of student societies wants to offer a one-day training course to help students in job hunting and to
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