Homework #5 - Int. Rec = Ret. Earn. 10/1/2012 ($60,000.00)...

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Jeremy Pflug Acct 600 A. Accounts Receivable = $5,800 B. Ending Balance = $550 C. Uncollectable = ($175,000 X 1%) = $1,750 D. Net relizable value = $5800 - 550 = $5,250
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Net Income Sales $7,250.00 Less: Cost of Goods Sold ($4,100.00) Gross Margin $3,150.00 Credit Card Expense ($217.50) Total $2,932.50
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Assets = Liab. + Equity Rev. - Exp. = Date Cash + Notes Rec +
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Unformatted text preview: Int. Rec = Ret. Earn. 10/1/2012 ($60,000.00) $60,000.00 NA NA NA NA 12/31/2012 NA NA $1,200.00 $1,200.00 $1,200.00 NA 10/1/2013 NA NA $3,600.00 $3,600.00 $3,600.00 NA 10/1/2013 $64,800.00 ($60,000.00) ($4,800.00) NA NA NA Net Inc. Cash Flow NA ($60,000.00) IA $1,200.00 NA $3,600.00 NA NA $60,000.00 IA $4,800.00 OA...
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Homework #5 - Int. Rec = Ret. Earn. 10/1/2012 ($60,000.00)...

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