Santana Rey,  owner of Business Solutions,  realizes that she needs to begin accounting for bad debts expense. Assume that Business Solutions has a total revenues of 55,000 during the first 3 months of 2022 and the accounts receivable balance on March 31, 2022,  is 22,467.

FINANCIAL ACCOUNTING
10th Edition
ISBN:9781259964947
Author:Libby
Publisher:Libby
Chapter1: Financial Statements And Business Decisions
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Santana Rey,  owner of Business Solutions,  realizes that she needs to begin accounting for bad debts expense. Assume that Business Solutions has a total revenues of 55,000 during the first 3 months of 2022 and the accounts receivable balance on March 31, 2022,  is 22,467.

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Santana Ray, ownrt of Business Solutions, decides to prepare a statement of cash flows for her business using the following financial data. 

Computer service revenue. 25,007

Net sales 18,393

Total revenue 43 400

Cost of goods sold 14,152

Depreciation expense-office equipment 390

Depreciation expense-Computer equipment 1,230

Wages expense 2,750

Insurance expense 515

Rent expense 2,175

Computer supplies expense 1,305

Advertising expense 570

Mileage expense 260

Repairs expense-Computer 930

Total expenses 24,277

Net Income 19,123

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