Chapter 8 Homework

Chapter 8 Homework - Chapter8Homework...

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Chapter 8 Homework Corporate Financial Accounting (Acct101) Ex 4 Simply Yummy Company Journal June 2 Accounts Receivable-Lynn Berry 16000.00 Sales 16000.00 June 2 Cost of Merchandise   9400.00 Merchandise inventory   9400.00 Oct. 15 Cash   4000.00 Allowance/Doubtful accts. 12000.00 Accounts Receivable-Lynn Berry 16000.00 Dec. 30 Accounts Receivable-Lynn Berry 12000.00 Allowance for Doubtful accts. 12000.00 Cash 12000.00 Accounts Receivable-Lynn Berry 12000.00 Ex 6 a) 13750.00 (5500000.00*0.0025) b) 12900.00 (17500.00-4600.00) c) 27500.00 (5500000.00*0.005) d) 16550.00 (24650.00-8100.00) Ex 20 a) May  11 days (31-20) June 30 days July 31 days Aug 18 days Total 90 days Due date on the Note is August18 b) 30675.00 [30000.00+(30000.00*9%*90/360)]
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c) May 20 Notes Receivable-Madria Furniture Co. 30000.00 Accounts Receivable-Madria Furniture Co. 30000.00 Aug. 18 Cash 30675.00 Note Receivable 30000.00 Interest Revenue      675.00
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This note was uploaded on 02/20/2010 for the course CARD CARD405 taught by Professor Smith during the Spring '10 term at DeVry Addison.

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Chapter 8 Homework - Chapter8Homework...

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