during the year jessicas firm had net income of $700000. it was a record year but most
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during the year jessicas firm had net income of $700000. it was a record year but most of the sales were on credit and have not yet been paid. in fact, there are still$400000 waiting for collection. mangement belives they will be paid ,but some of the terms allow almost a year before that occurs. the firms also paid a divided of $4000 . how much, if at all , did retained earnings change this year?
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College Accounting A Contemporary Approach
ISBN: 978-0073396958
2nd edition
Authors: David Haddock, John Price, Michael Farina
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