Homework Answers
Ans: The correct option for the answer is option B i.e. $2,400
Balance in Supplies Account= Balance on March 1+ Supplies Purchased-Supplies Used
=> 2,280+ 3,310-3,190
=> 2,400
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During its first year of operations, Kingbird, Inc. had credit
sales of $3,000,300, of which $401,500 remained uncollected at
year-end. The credit manager estimates that $18,830 of these
receivables will become uncollectible.
(b)
Prepare the current assets section of the balance sheet for
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cash of $89,840, merchandise inventory of $165,430, and supplies of
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liquidity)
During its...
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