Chapter 22, Problem 6E

A new machine with a purchase price of $90,000, transportation costs of $8,000, installation costs of $6,000, and special handling fees of $2,000, would have a cost basis of___. a. $106,000 b. $110,000 c. $108,000 d. $102,000

Samuel Enterprises had an $185,000 beginning balance in Accounts Receivable. During the year, credit sales were $680,000 and customers' accounts collected were $590,000. What was the net amount of receivables included in the current assets at the end of the year, before any provision was made for doubtful accounts?

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