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TR 7-1
1. True
2. False
3. False
4. True
5. True

TR 7-2
1. false
2. FALSE
3.TRUE
4. true or false
5. True

TR 7-3

Balance Per Bank Balance Per Book

27900 36000
5500 a -900 cheque recording error
4900 b -400 bank fees
-2500 c 1100

35800 35800

a/p 900
cash 900

bank charge 400

cash 400

cash 1100
a/r 1100

TR 7-4

Allow. For sales disctounts 5500

sales discount 5500
bad debts expense 25000
allow for doubtful accts 25000

a.r 600000
allow for dou -65000
a/r, net 535000

TR 7-5
a/r 100000 afda
10000
10000
20000
100000 2000
18000 bad debt exp 10000
20000 afda 10000

80000

TR 7-6 ppt 33

cash 444500
financing exp 15500
a/r 460000

TR 7-7

cash 444500
discount on notes 15500
notes payable 460000

TR 7-9
10% 10%
Opening Interest Interest Discount Closing fv 10000
receivable revenue received amortized Received n 2
8612 861.2 200 661.2 10000 1/y 10
9273.2 927.32 200 727.32 9273 (1st) pmt (stated) 200
pv 8611.57

note receivable 10000

sales rev 8612
discount on NR 1388
y1 y2
cash 200 cash 200
discount on NR 661.2 discount on N 727
interest rev 861.2 interest rev 927

cash 10000
NR 10000