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Problem 1: Bad Dog Industries has an average collection period of 45 days. Suppose the firm booked $300,000 in credit sales in September. How much of the September revenue was collected in October? (Assume all months have 30 days.)
Group of answer choices
Option 1: $150,000
Option 2: $200,000
Option 3: $250,000
Option 4: $100,000
Compute the predetermined overhead rate and compute the overhead applied.
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Income from fees are P 90,000, while expenses total P 48,000. What amount of net income should be credited to each partners' capital account?
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