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sales revenue…$247,000freight in…………..$15,000purchase returns….$8,00

sales revenue...$247,000freight in..............$15,000purchase returns....$8,000Rent expense...........$28,000beginning inventory....$28,000bad debt expense......$19,000purchases.......................$86,000cost of goods sold......?freight out.......................$10,000sales discounts............$12,000allowance for doubtful accounts.....$18,000purchases discounts..................?income tax expense.............$24,000ending inventory...............$17,000jackson company reported a net income of $65,000. Calculate the amount of purchase discounts reported by Jackson company

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The draft financial statements of Hanford Ltd are given below:                  

The draft financial statements of Hanford Ltd are given below:                                                                         Balance sheet as at 31 December                                                                                2002                           2001                                                                      $'000        $'000            $'000      $'000Non-current assetsProperty, plant & equipment                         5,670                            5,490   (net)      Intangible assets      Goodwill                                                   540        6,210              600      6,090    Current assets    Inventories                                               8,260                              6,820   …

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