In September, Sales Revenue for a company totaled $660,000 of which 40% was collected. The Company issued 50,000 preferred shares at $45 each. A down payment of $1,125,000 was proposed on the purchase of a building and electronic equipment to be operational by year-end. Salary expense in September, totaled $250,000 of which 10% were accrued. Three months of rent were prepaid for a total of $156,000. August's expenses were paid. $150,000 of corporate taxes was deferred to the next quarter. Accounts Receivable was reduced by $360,000. The credit line of $120,000 was paid off at the beginning of the month, saving $986 of interest for the period. Amortization expense totaled $40,000. In September

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The Answer of In September, Sales Revenue for a company totaled $660,000 of which 40% was collected. The Company issued 50,000 preferred shares at $45 each. A down payment of $1,125,000 was proposed on the purchase of a building and electronic equipment to be operational by year-end. Salary expense in September, totaled $250,000 of which 10% were accrued. Three months of rent were prepaid for a total of $156,000. August's expenses were paid. $150,000 of corporate taxes was deferred to the next quarter. Accounts Receivable was reduced by $360,000. The credit line of $120,000 was paid off at the beginning of the month, saving $986 of interest for the period. Amortization expense totaled $40,000. In September

In September, Sales Revenue for a Company Totaled $660,000 of Which