The following transactions were completed by the company. The company completed consulting work for a client and immediately col
lected $5,600 cash earned. The company completed commission work for a client and sent a bill for $4,100 to be received within 30 days. The company paid an assistant $1,450 cash as wages for the period. The company collected $2,050 cash as a partial payment for the amount owed by the client in transaction b. The company paid $720 cash for this period's cleaning services.
1 answer:
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Answer: The answer is $1,092,865.5426
To the nearest whole dollar, we have:
$1,092,866
Explanation: from the question above, we will be calculating the present value of a cashflow of $93,000 over a period of 20 years, at a rate of 5.76%.
We will be performing a discounting operation.
Refer to the attached files below to see the calculations and how we arrived at the answer above.
