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These are the solutions for question 9DQ. Three accounts: Debit Accounts Receivable for $243,600 Credit Notes Receivable for $240,000 Credit Interest Revenue for $3,600        I would like help on question 10QD

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1 Find the new balance, assuming that the bank charges 2-% per month on the unpaid balance. 2 Previous New Balance Payment Purchases $592.88 $81.26 A. $575.61 B. $572.61 C. $576.51 O D. $574.41 $50.00

Question 1 Catherine’s Cookies has a beginning balance in the Accounts Payable control total account of RO 8,200. In the cash disbursements journal, the Accounts Payable column has total debits of RO 6,800 for November. The Accounts Payable credit column in the purchases journal reveals a total of RO10,500 for the current month. Based on this information, what is the ending balance in the Accounts Payable account in the general ledger? Question 2 Record the following transactions in the cash receipts journal. Jun. 12 Your company received payment in full from Jolie Inc. in the amount of RO1,225 for merchandise purchased on June 4 for RO1,250, invoice number No.1032. Jolie Inc. was offered terms of 2/10, n/30. Record the payment. Jun. 15 Portman Inc. mailed you a check for RO2500. The company paid for invoice No.1027, dated June 1, in the amount of RO2,500, terms offered 3/10, n/30. Jun. 17 Your company received a refund check (its check No.12440) from the State…

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Task 2: Evaluate the company's efficiency in collecting its accounts receivable during the fiscal year ended 31 December 2021. Use the company's information from its annual reports: Receivables as of 31 December 2020 $4,468,392 $4,972,722 $45,349,943 Receivables as of 31 December 2021 Sales revenue for year ended 31 December 2021 1. Calculate the company's number of days of sales outstanding (DSO) for the fiscal year ended 31 December 2021. (Use the average receivables to calculate the ratio). Not Accounting receivable Average Day's sales in receivable = 154; 2. Interpret the calculated ratio. 3. Assume that the industry average DSO ratio is 60 days. Based on this information and the subject company's DSO ratio, critically evaluate the company's credit policy and its implications.

Problem 7. Single-entry bookkeeping (sales revenue during the year) The December 31, 2020 statement of financial position of YOYO Company showed accounts receivable of P50,270. During 2021, accounts were written off in the amount of P6,200 and an account for P4,200, which was written off in 2020, was collected and recorded as a regular collection of accounts receivable in 2021. Unpaid sales slips showed that the customers owed P64,320 as of December 31, 2021. Sales returns from charge sales during the year amounting to P750. Also, YOYO received P584,190 from customers after deducting P3,630 discounts. How much is YOYO’s net sales for the year ended December 31, 2021?

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What is the net realizable value of account receivables?

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Find the new balance, assuming that the bank charges 1 1/2 % per month on the unpaid balance. PreviousBalance   Payment   NewPurchases $500   $40   $80 STEP 1: Find the unpaid balance after the payment is made on the previous balance.$  STEP 2: Calculate the amount of charge incurred by the unpaid balance.$  STEP 3: Find the new balance.$

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