Homework Answers
Total merchandise cost = 30,000,000 TL (Turkish lira)
Investment in Merchandise Inventory = 30,000000 * 20/360 = 1,666,666.67 TL
Merchandise prepayments = 10* of 30,000,000 = 3,000,000 TL
Merchandise receivables paid by credit card = 30,000,000 - 10% Paid in advance - 10% paid in cash = 24,000,000
Merchandise receivables = 24,000,000 * (35/360) = 2,333,333.33 TL
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