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Homework #5

# Homework #5 - Int Rec = Ret Earn(\$60,000.00 \$60,000.00 NA...

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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
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(\$60,000.00 \$60,000.00 NA...

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