Question
9.) Motown corporation had the following journal entries related to sales on account during 20X0: Sale One: Day 1: Accounts Receivable $ 147,000 Sales $
9.) Motown corporation had the following journal entries related to sales on account during 20X0: Sale One: Day 1: Accounts Receivable $ 147,000 Sales $ 147,000 $ 147,000 $ 147,000 A one year note receivable from a parent corporation to one of its subsidiaries would be classified how on the balance sheet: Day 10: Cash $ 28,000 Sales Discounts Taken $ 380 Accounts Receivable $ 28,380 $ 28,380 $ 28,380 Day 30: Cash $ 90,000 Accounts Receivable $ 90,000 $ 90,000 $ 90,000 Sale Two: Day 1: Accounts Receivable $ 500,000 Sales $ 500,000 $ 500,000 $ 500,000 Day 11 entry: Cash $ 49,000 Accounts Receivable $ 49,000 $ 49,000 $ 49,000 Day 30: Cash $ 192,000 Accounts Receivable $ 187,000 Sales Discounts Forfeited $ 5,000 $ 192,000 $ 192,000
Compute NET SALES:
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