ANSWERS TO QUESTIONS

The rate is determined by reference to the relationship between prior years’ credit or total sales and actual bad debts arising therefrom. ... Short-term Treasury bills of $180,000 should be reported as a temporary investment. ... Age Balance Aging Schedule Under 60 days $172,342 1% $ 1,723.42 61–90 days 141,330 3% 4,239.90 91–120 days ... ................
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