BART Company started operations an January 01, 2008. The following are available as of June 30, 2008: Purchase of merchandise 450,000 75,000 P Inventory, June 30, 2008 Goods were sold at 50% above cost; 75% ofsales were on account Estimated bad debts Cllections from charge customers Allowance for doubtful accounts, June 30,2008 1% of credit sales 315,000 after write off of uncollectible accounts 3,903.75 The outstanding accounts receivable as of June 30, 2008 were:

BART Company started operations an January 01, 2008. The following are available as of June 30, 2008: Purchase of merchandise 450,000 75,000 P Inventory, June 30, 2008 Goods were sold at 50% above cost; 75% ofsales were on account Estimated bad debts Cllections from charge customers Allowance for doubtful accounts, June 30,2008 1% of credit sales 315,000 after write off of uncollectible accounts 3,903.75 The outstanding accounts receivable as of June 30, 2008 were:

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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Question

100%

a. 110,000

b. 106,875

c. 106,560

d. 285,000

5.
BART Company started operations on January 01, 2008. The following are available as of June 30, 2008:
Purchase of merchandise
P
450,000
75,000
Inventory, June 30, 2008
Goods were sold at 50% above cost; 75% ofsales were on account
Estimated bad debts
Collections from charge customers
Allowance for doubtful accounts, June 30,2008
1% of credit sales
315,000
after write off of uncollectible accounts
3,903.75
The outstanding accounts receivable as of June 30, 2008 were:

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