Sheffield Company made a purchase of merchandise on credit from Pharoah Company on August 8, for $9100, terms 3/10, n/30. On August 17, Sheffield makes the appropriate payment to Pharoah. The entry on August 17 for Sheffield Company is:

In its first year of operations, crane company recognized $31,700 in service revenue, $7,700 of which was on account and still outstanding at year-end. the remaining $24,000 was received in cash from customers. the company incurred operating expenses of $16,600. of these expenses, $12,690 were paid in cash; $3,910 was still owed on account at year-end. in addition, crane prepaid $3,260 for insurance coverage that would not be used until the second year of operations.

Write two goals for yourself that will aid you in pursuing your post-secondary education or training. with this

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