Question: Current assets for 2 0 2 1 cash $ 3 2 , 0 0 0 accounts receivable $ 2 4 7 , 5 0 0

Current assets for 2021 cash $32,000 accounts receivable $247,500 inventory 2,000,762 $300 prepaid expense $6200 total current assets 2,140 $1500 current liabilities $3,048,000Credit sells tell me $2,238,000 and 2022 cash is at 21,750 accounts receivable 299,000 inventory 2,668,$425 prepaid expenses at $9875. Total current assets is $1,986,000. Current liabilities is $2,999,050. Credit is 2,000,$448,000California credit terms are 30 days. A 2% discount can be taken if the bill is paid within 10 days from the invoice date in California in 2021 its account receivable.

Step by Step Solution

There are 3 Steps involved in it

1 Expert Approved Answer
Step: 1 Unlock blur-text-image
Question Has Been Solved by an Expert!

Get step-by-step solutions from verified subject matter experts

Step: 2 Unlock
Step: 3 Unlock

Students Have Also Explored These Related Accounting Questions!