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 2018, thomas shipped and billed book titles totaling $790 comma 000. collections, net of return credits, during the year totaled $712 comma 342. the company spent $306 comma 337 acquiring the books that it shipped. a. using accrual accounting and the preceding values, show the firm's net profit for the past year.
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Thomas book sales, inc., supplies textbooks to college and university bookstores. the books are ship...
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