sarasaraparl4607
10.08.2021 •
Business
Jan. 19. Sold merchandise on account to Dr. Sinclair Welby, $15,160. The cost of the merchandise sold was $9,270.
July 7. Received $4,280 from Dr. Sinclair Welby and wrote off the remainder owed on the sale of January 19 as uncollectible.
Nov. 2. Reinstated the account of Dr. Sinclair Welby that had been written off on July 7 and received $10,880 cash in full payment.
Required:
Journalize the above transactions.
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Ответ:
the effective gross income is $117,480
Explanation:
The computation of the effective gross income is shown below:
= Gross income - vacancy income
= ($2,750 × 4 units × $12) - ($2,750 × 12 × 4 × 11%)
= $132,000 - $14,520
= $117,480
hence, the effective gross income is $117,480
The same is to be considered and relevant