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5-1 Problem Solving
5-1 Problem Solving
5-1 Problem Solving
com/ph/document/cagayan-state-university/accounting/illustrative-
problem/13067370
1. Credit sales (75% x 5,000,000) 37,500
Sales 7,000,000
2. Cash 2,450,000
3. Cash 3,900,000
Cash 10,000
Requirement b
Rate = 40,000/1,000,000 = 4%
Requirement c