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Problem 1: AG Inc. made a $10,000 sale on account with the following terms: 1/15, n/30. If the company uses the net method to record sales made on credit, how much should be recorded as revenue?
a. $ 10,100b. $10,000c. $ 9,800d. $ 9,900
Would use of the template help the audit firm comply with professional standards
This year Cairo Company sold 35,000 units of its only product for $16 per unit. Manufacturing and selling the product required $120,000 of fixed manufacturing.
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