Loose Leaf for Fundamentals of Accounting Principles and Connect Access Card
Loose Leaf for Fundamentals of Accounting Principles and Connect Access Card
22nd Edition
ISBN: 9781259542169
Author: John J Wild
Publisher: McGraw-Hill Education
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Chapter 9, Problem 9QS
To determine

Note Receivable:

Note receivable is a credit instrument used for credit sales; it has a maturity date and a certain percentage of interest is mentioned in it.

To prepare: Journal entry in the books of J.

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Dorsen Labs produced 12,000 gallons of Zenthra and 18,000 gallons of Vextron. Joint costs incurred in producing the two products totaled $9,000. At the split-off point, Zenthra has a market value of $6 per gallon and Vextron $3 per gallon. Compute the portion of the joint costs to be allocated to Zenthra if the value basis is used.
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Waka Company had cash sales of $78,275, credit sales of $97,450, sales returns and allowances of $1,500, and sales discounts of $4,875. Calculate Waka's net sales for this period.
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