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8-9 Help please. Alderwood Company has provided the following information prior to any year-end bad debt adjustment: - Cash sales, $454,000 - Credit sales, $1,362,000
8-9
Help please.
Alderwood Company has provided the following information prior to any year-end bad debt adjustment: - Cash sales, $454,000 - Credit sales, $1,362,000 - Selling and administrative expenses, \$342,000 - Sales returns and allowances, $102,000 - Gross profit, \$1,482,000 - Accounts receivable, $342,000 - Sales discounts, $54,000 - Allowance for doubtful accounts credit balance, $3,760 Alderwood prepares an aging of accounts receivable and the result shows that 5% of accounts receivable is esti Multiple Choice $13,340. $13,152. $20,860. $17,100. During 2022, Sigma Company earned service revenue amounting to $760,000, of which $620,000 was collected in cash; the balance will be collected in January, 2023 . Also in 2022 , there were collections of cash prior to the delivery of goods/services totaling $9,000. What amount should the 2022 income statement report for service revenue? Multiple Choice $620,000 $140,000 $630,000 $760,000Step by Step Solution
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