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Sage Inc. experienced the following transactions for Year 1 , its first year of operations: Issued common stock for $ 1 1 0 , 0
Sage Inc. experienced the following transactions for Year its first year of operations:
Issued common stock for $ cash.
:: Purchased $ of merchandise on account.
Sold merchandise that cost $ for $ on account.
Collected $ cash from accounts receivable.
eBook Paid $ on accounts payable.
Print Paid other operating expenses of $
Sage adjusted the accounts using the following information from an accounts receivable aging schedule
tabletableNumber of DaysPast DuetableAmountCurrenttablePercent Likely to BeUncollectibletableAllowanceBalance$Over days,
Required
a Organize the transaction data in accounts under an accounting equation.
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Issued common stock for $ cash.
Purchased $ of merchandise on account.
Sold merchandise that cost $ for $ on account.
Collected $ cash from accounts receivable.
Paid $ on accounts payable.
Paid $ of salaries expense for the year.
Paid other operating expenses of $
Sage adjusted the accounts using the following information from an accounts receivable aging schedu
tabletableNumber of DaysPast DueAmount,tablePercent Likely to BeUncollectibleAllowanceCurrent$BalanceOver days,
a Organize
b Prepare the transaction data in accounts under an accounting equation. Inc. for Year
c What is the net realizable value of the accounts receivable at December Year
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