Answer:
$3,400,000
Explanation:
The computation of the credit sales is shown below:
As we know that
Closing balance of accounts receivables = Opening balance of accounts receivables + Credit Sales - Bad debts written off - Cash collected from credit customers
$750,000 = $550,000 + credit sales - $460,000 - $4,060,000
$750,000 = $4,150,000 + credit sales
So, the credit sales is
= $4,150,000 - $750,000
= $3,400,000
Simply we applied the above formula
Explanation:
1. A bond's face or maturity value is generally $1,000 and represents the amount borrowed from the bond's first purchaser.
2. A bond issuer is said to be in default if it does not pay the interest or the principal in accordance with the terms of the indenture agreement or if it violates one or more of the issue's restrictive covenants.
3. A bond contract feature that requires the issuer to retire a specified portion of the bond issue each year is called a singing fund provision.
4. A bond's call provision gives the issuer the right to call, or redeem, a bond at specific time and under specific conditions.
The right side of any account is B the credit side