Homework Answers
| 6) | Calculation Of Net Changes In Account Receivables | |||||
| Sales | $ 1,00,000 | |||||
| Add: Sales Taxes | $ 8,000 | |||||
| Less: | ||||||
| Totaled collection | $ -92,000 | |||||
| Discount allowed | $ -3,000 | |||||
| Uncollectible account written off | $ -2,000 | |||||
| Net Changes | $ 11,000 | |||||
| Correct Option = B | ||||||
| 7) | Calculation Of Discount = $6000*6%*46 Days/365 | |||||
| =$45.6 | ||||||
| Therefore net proceed would be = $6000 -$45.6 | ||||||
| $ 5,954.40 | ||||||
| Correct Option = A | ||||||
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