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lilavasa [31]
3 years ago
8

Michael Co. is a corporation that sells breakfast bars. Based on the accounts listed below, what are Michael's total trade recei

vables? Income tax refund due $ 1,500 Advance due to the company from the company president 1,300 3-month note due from Michael's main customer 12,000 Interest due this month on the above note 1,100 Due and unpaid from this month's sales 19,000 Due and unpaid from last month's sales 11,000 A. $44,600 B. $42,000 C. $31,000 D. $45,900
Business
1 answer:
Thepotemich [5.8K]3 years ago
7 0

Answer:

B. $42,000

Explanation:

Trade receivables refers total amounts that customers of a company are owing the company for goods or services sold to them.

For Michael Co., this can be calculated as follows:

Michael's total trade receivables = 3-month note due from Michael's main customer + Due and unpaid from this month's sales + Due and unpaid from last month's sales

Therefore, we have:

Michael's total trade receivables = $12,000 + $19,000 + 11,000 = $42,000.

Therefore, Michael's total trade receivables is $42,000.

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Answer:

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Explanation:

given data

received bonus = $10,000

savings account paying = 4.5% per year

bonds paying = 5%

mutual fund that returned = 4%

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to find out

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solution

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and rest is  10000- x  - 2x

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so

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solve we get

x = 2200

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and mutual fund = $3400

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If a $4,000 debit to Equipment in a journal entry is incorrectly posted to the ledger as a $4,000 credit and the ledger account
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