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Mac sells on terms of 2/10, net 30. Total sales for the year are $949,000; 30% of the customers pay on the 10th day and take discounts, while the other 70% pay, on average, 40 days after their purchases.
Question a) What is the days' sales outstanding?
Question b) What is the average amount of receivables?
Question c) What is the percentage cost of trade credit to customers who take the discount?
Question d) What is the percentage cost of trade credit to customers who do not take the discount and pay in 40 days?
Question e) What would happen to McDowell's accounts receivable if it toughened up on its collection policy with the result that all non-discount customers paid on the 30th day
The following information was taken from the cost records of the Solom Corporation: Estimated manufacturing overhead $89.000 Actual manufacturing overhead $84,000 estimated direct labor hours 12,000 Actual direct labor hours 12,500 Solom applies manu..
Mozena Corporation has collected the following information after its first year of sales. Sales were $1,500,000 on 100,000 units; selling expenses $250,000 (40% variable and 60% fixed); direct materials $511,000; direct labor $290,000; administrative..
During October, Dorinirl Corporation incurred $65,500 of direct labor costs and $5,100 of indirect labor costs. The journal entry to record the accrual of these wages would include a:
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Kyle worked as a free-lance software engineer for the first three months of 2016. During that time, he earned $62,000 of self-employment income. On April 1, 2016, Kyle took a job as a full-time software engineer with one of his former clients, Hoogle..
Employee development that consists of four broad categories and approaches that can be combined is: formal education, achievement, skill building, and experience. formal education, assessment, job experience, and building relationships.
hepner corporation has the subsequent stockholders equity accountspreferred stock 7 cumulative dividend 580000common
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