Putman Company had cash sales of $75,950 (including taxes) for the month of June. Sales are subject to 8.5% sales tax. Prepare the entry to record the sale. Account Titles and Explanation Debit Credit enter an account title

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A: First quarter mean January, February, March.

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A: Since, you have asked to answer the net accounts receivables as on February 28. The cash receipts…

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A: Amount of credit sales = Total sales * (1-Cash sales%) = 900000*(1-20%) =720000

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A: Dear student, as per Bartleby answering guidelines we can answer only the first question if the…

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A: Calculate the receivables turnover ratio.

Q: Flyer Company has provided the following information • Cash sales, $325,000 • Credit sales, $850.000…

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Q: At year-end, Sample has cash of $8,000, current accounts receivable of $40,000, merchandise…

A: Average accounts receivables = (beginning balance+ending balance)/2 Average accounts receivables =…

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A: Assuming a 365-day year, how long (in average days) does the collectibles from customers stay as…

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A: Credit sales for January = total sales x 80% = $120,000 x 80% = $96,000

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A: Given, following pattern of collection - 70% in the month of sale, 25% in the month following sale,…

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Q: At the end of the year Stan Still Stationery Store had the following balances: Sales $485,000; Sales…

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Q: Al Bahr Corporation, a wholesaler, provided the following information Month Sales January 64000…

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Q: The following information relates to Eva Co's sales tax for the month of March 20X3: $ Sales…

A: We have the following information: Sales (including sales tax): $109,250 Purchases (net of sales…

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A: June collections= (25% x May month sales) + (75% x June month sales) 25% of May month sales = (15%…