Thomas book sales inc. supplies textbooks to college and, Ask an Expert

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Thomas Book Sales, Inc., supplies textbooks to college and university bookstores. The books are shipped with a proviso that they must be paid for within 30 days but can be returned for a full refund credit within 90 days. In 2006, Thomas shipped and billed book titles totaling $780,000. Collections, net of return credits, during the year totaled $708,211. The company spent $302,295 acquiring the books that it shipped.

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Accounting Basics, Accounting

Category:- Accounting Basics
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