FINANCIAL +MANAGERIAL ACCT- ACCESS
FINANCIAL +MANAGERIAL ACCT- ACCESS
9th Edition
ISBN: 9781260728835
Author: Wild
Publisher: MCG
Question
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Chapter 7, Problem 3E
To determine

Concept Introduction: Accounts receivable is the amount due from customers for credit sales. Accounts receivable and notes receivable two most common receivables. When credit sales occur, accounts receivable is debited, and the sales account is credited. When cash is collected, cash is debited, and accounts receivable are credited.

The cash collection from credit customers for the current period.

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I cannot figure out the account of "Goodwill" or "APIC from Pushdown Accounting." I thought APIC should be $285,000, but it didn't work for some reason. And I didn't know we had goodwill, but we do, and I can't figure out how to get the correct answer. I tried $350,000 for APIC, but that also doesn't work, and I am at a loss of what to do next. Please explain as clearly as possible how to do Goodwill and the APIC from Pushdown Accounting. Thanks so much! :)
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Hii tutor please given answer general Accounting question
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