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Percent of sales method
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Use the percent of sales method to forecast next yera's accounts payable. Current year sales are $24,500,000 and sales are expected to rise by 25%. The firm's accounts payable balance is $1,701,600. What is the projection for next year's accounts payable?
Installment-Sales Method
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Can someone let me know if I did the following problem correct? On January 1, 2007, Barkly Company sold property for $200,000. The note will be collected as follows: $100,000 in 2007, $60,000 in 2008, and $40,000 in 2009. The property had cost Barkly $150,000 when it was purchased in 2005. ... View more questions Search
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