1-

Revenue on account amounted to $4,200. Cash collections of accounts receivable amounted to $2,450. Expenses for the period were $2,200. The company paid dividends of $500. Net income for the period was

2-

On January 1, 2016 Brown Co. issued $113,000 of 9%, 20-year bonds. If Bluefield's tax rate is 40%, the after-tax cost of borrowing related to these bonds for 2016 is:

3-

Warren Company began the accounting period with a $34,000 debit balance in its accounts receivable account. During the accounting period, the company recorded revenue on account amounting to $80,000. The accounts receivable account at the end of the accounting period contained a $17,000 debit balance. Based on this information, the cash collected from accounts receivable during the period is