Maurice Tutor

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    Argosy University/ Phoniex University/
    Nov-2005 - Oct-2011

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    Phoniex University
    Oct-2001 - Nov-2016

Category > Accounting Posted 13 Aug 2017 My Price 4.00

Foster Company

On July 1, 2013, the Foster Company sold inventory to the Slate Corporation for $300,000. Terms of the sale called for a down payment of $75,000 and three annual installments of $75,000 due on each July 1, beginning July 1, 2014. Each installment also will include interest on the unpaid balance applying an appropriate interest rate. The inventory cost Foster $120,000. The company uses the perpetual inventory system.
2011 2012
Installment sales $ 360,000 $ 350,000
Cost of installment sales 234,000 245,000
Cash...

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Maurice Tutor
(5)
Status NEW Posted 13 Aug 2017 10:08 PM My Price 4.00

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