Question
Sales for the year for Victor Company were $1,200,000, 70 percent of which were on credit. The average gross profit on sales was 45 percent.
Sales for the year for Victor Company were $1,200,000, 70 percent of which were on credit. The average gross profit on sales was 45 percent. Additional account balances were: Accounts receivable (net) Ending$ 49,000 Beginning $ 67,000 Inventory Ending 75,000 Beginning 27,000
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Auditing A Modern Approach
Authors: Sanjay Basotia
1st Edition
938092903X, 978-9380929033
