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Author Question: The sales account is a revenue account. a. True b. False Indicate whether the statement is true ... (Read 617 times)

panfilo

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  • Posts: 572
on: Jul 5, 2018
The sales account is a revenue account.
 a. True
   b. False
   Indicate whether the statement is true or false

Question 2

Calculate the cash received by the issuing company:
 
  Face value Issue price Cash received
  a. 50,000 103
  b. 80,000 100
  c. 100,000 97


aburgess

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Reply #1 on: Jul 5, 2018
Answer to Question 1

True

Answer to Question 2

a. 51,500 = 50,000 x 1.03
b. 80,000 = 80,000 x 1.00
c. 97,000 = 100,000 x 0.97


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