Date 01/01 01/05 01/08 01/10 01/24 02/01 02/05 02/08 02/10 02/15 02/24 Amount 0.00 2,499,012.00 7,497,036.00 2,998,814.40 59,976.29 624,753.00 2,998,814.40 7,497,036.00 4,198,340.16 1,499,407.20 83,966.80 Transaction Started new business. All Accounts are nil. Bought inventory Sold services Sold all inventory 2% of Sales were returned Paid Rent for the current month Bought inventory Sold services Sold all inventory Paid employees 2% of Sales were returned

Date 01/01 01/05 01/08 01/10 01/24 02/01 02/05 02/08 02/10 02/15 02/24 Amount 0.00 2,499,012.00 7,497,036.00 2,998,814.40 59,976.29 624,753.00 2,998,814.40 7,497,036.00 4,198,340.16 1,499,407.20 83,966.80 Transaction Started new business. All Accounts are nil. Bought inventory Sold services Sold all inventory 2% of Sales were returned Paid Rent for the current month Bought inventory Sold services Sold all inventory Paid employees 2% of Sales were returned

Intermediate Accounting: Reporting And Analysis

3rd Edition

ISBN:9781337788281

Author:James M. Wahlen, Jefferson P. Jones, Donald Pagach

Publisher:James M. Wahlen, Jefferson P. Jones, Donald Pagach

Chapter6: Cash And Receivables

Section: Chapter Questions

Problem 4RE: Refer to RE6-3. Assume Long records accounts receivable and sales using the net price method....

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