Answer:
Explanation:
Net income $300,000
Adjustments for noncash effects:
Depreciation expense 15,000
Increase in inventory (2,000)
Decrease in interest payable (1,600)
Increase in accounts receivable ( 1,400)
Decrease in bond premium (3,000)
Increase in accounts payable 7,000
Net cash flows from operating activities
$314,000
C. One who signed the note and promised to pay at maturity
Answer:
$24,000
Explanation:
Since in the question it is given that the 3% of credit sales is considered to be a bad debt expense
where,
Credit sales is $800,000
And, the estimated percentage is 3%
So by considering this above information, the amount debited to bad debt expense is
= $800,000 × 3%
= $24,000
All the other information i.e to be given is not relevant. Hence, ignored it
If his starting balance is the $225.91
then his balance would be
-131.71
