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slavikrds [6]
2 years ago
5

On January 1, Year 5, customers owed Eagle $40,000. On December 31, Year 5, customers owed Eagle $30,000. Eagle uses the direct

write‐off method for bad debts. No bad debts were recorded in Year 5. Under the cash basis of accounting, what amount of net revenue should Eagle report for Year 5?
Business
1 answer:
irinina [24]2 years ago
3 0

Answer:

$200,000

Explanation:

The computation of the net revenue is shown below:

= Cash sales gross - Returns and allowances + credit sales gross - discounts + beginning balance of account receivable - ending balance of account receivable  

= $80,000 - $4,000 + $120,000 - $6,000 + $40,000 - $30,000

= $200,000

We simply first compute the net cash sales after considering the returns and allowances, and net credit sales after considering the discounts, and deduct the ending balance of account receivable

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A GEOLOGIC map shows what the rocks in an area are and what they are made of. 

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3 years ago
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Answer:

c. Emphasis on ethics

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What do you think happens to the price of an object as it goes through a large number of intermediaries?
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Answer:

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b.  $7,200

c.  $2,300

d.  $850

Explanation:

<u>Goods Available For Sale Calculation :</u>

Beginning inventory             5,000

Add Net Purchases               3,900

Goods Available For Sale     8,900

<u>Cost of Goods Sold Calculation :</u>

Goods Available For Sale     8,900

Less Ending Inventory          (1,700)

Cost of Goods Sold               7,200

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Less Cost of Goods Sold     (7,200)

Gross Profit                            2,300

<u>Net Income Calculation :</u>

Gross Profit                            2,300

Less Expenses                      (1,450)

Net Income                               850

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