COLLEGE ACCOUNTING
13th Edition
ISBN: 9780357531846
Author: Scott
Publisher: CENGAGE L
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Chapter D, Problem 8P
To determine
Journalize the given transaction for dishonored note receivable.
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Best Office Supplies Inc. reported the
following financial data for 2022:
• Net Income: $1,250.5 million
• Sales Revenue: $22,500.8 million
• Total Assets at Beginning of the
Year: $10,200.4 million
• Total Assets at End of the Year:
$11,150.6 million
Required:
(a) Compute the asset turnover ratio
(b) Compute the profit margin ratio
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