Document Summary

Net sales = net credit sales, go over direct and indirect inventory methods, we can do recovery of previous losses, allowance for inventory cannot be a debit, make sure you know how to obtain pv and future values of bonds, tables in back of book, coupon rate is used to calculate actual cash interest paid, market rate tells you the pv, don"t mix up your single sum and annuity tables, make sure you know which interest rate is what, when handling debt questions, the first thing you should do is make the schedule of amortization: