company had credit sales of $ 33 comma 000$33,000 and cash sales of $ 24 comma...
Homework Answers
Company's net income for the month :-
| Revenue: | |
| Credit sales | 33,000 |
| Cash sales | 24,000 |
| Total Revenue (A) | $57,000 |
| Expenses: | |
| Wages | 25,000 |
| Utilities | 10,000 |
| Total Expenses (B) | $35,000 |
| Net Income (A - B) | $22,000 |
Payment received from customers is treated in Cash Account and receivable account in Assets section.
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