2 years ago

On 20/07/2019, "ABC" Company sold goods to customer "X" with a total value of $120.000 The customer pad

Business

1 answer:

shepuryov [24]2 years ago

4 0

Answer:

1) total sales revenue = $120,000

this amount holds regardless of how much money was collected in cash or if an account/note receivable was recorded

2) the company must recognize interest revenue:

principal = $72,000

interest revenue = $72,000 x 10% x 40/360 days = $800

Dr Interest receivable 8000

Cr Interest revenue 800

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Answers

let C be the capital, then :

$C\times4 \% = 170500\\C\times\frac{4}{100}= 170500\\C=170500\times\frac{100}{4}\\C=4262500$