Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

please solve it as soon as possible before 20 minutes plz ABC, Inc. has just ended the calendar year making a sale in the amount

please solve it as soon as possible before 20 minutes plz

image text in transcribed

ABC, Inc. has just ended the calendar year making a sale in the amount of $8,000 of merchandise purchased during the year at a total cost of $6,000. Although the firm paid in full for the merchandise during the year, it has yet to collect at year end from the customer. The net profit and cash flow from this sale for the year are O a. $8,000 and -$6,000, respectively. O b. $2,000 and $8,000, respectively O c. $8,000 and $6,000, respectively. O d. $2,000 and - $6,000, respectively

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image

Step: 3

blur-text-image

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

Health Care Finance Basic Tools For Nonfinancial Managers

Authors: Judith Baker

2nd Edition

0763726605, 9780763726607

More Books

Students also viewed these Finance questions

Question

Do I own something similar already?

Answered: 1 week ago

Question

What are their resources?

Answered: 1 week ago