Question

The adjusted trial balances of Falcon Corporation at March 31, 2014, and March 31, 2013, include these amounts (in millions):


Falcon completed these transactions (in millions) during the year ended March 31, 2014.
Collections from customers......................................... $20,900
Payment of prepaid insurance ..................................... 470
Cash payments for other operating expenses............... 4,200
Compute the amount of sales revenue, insurance expense, and other operating expenses to report on the income statement for the year ended March 31,2014.


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  • CreatedJuly 25, 2014
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