Chapter 9, Problem 3P

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Sims Inc. had a $195,000beginning balance in Accounts Receivable. During the year, credit sales totaled $820,000, and collections from customers amounted to $700,000. What was the net amount of receivables included in current assets at the end of the year, before any provision for doubtful accounts?

Compute the ending carrying value of the trade name for 2010 and 2011.

Rate of inventory turnover for 2023

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On August 1, the accounts receivable account balance of Jenson Corp was $84,200. During August, $312,000 was collected from customers on account. Assuming the August 31 balance was $81,600, determine the fees billed to customers on account during August.

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