Blossom Co. has the following transactions related to notes receivable during the last 2 months of the year. The company does not make entries to accrue interest except at December 31. Nov. 1 Dec. 11 16 31 Loaned $58,800 cash to C. Bohr on a 12-month, 8% note. Sold goods to K. R. Pine, Inc., receiving a $7,200, 90-day, 8% note. Received a $14,400, 180-day, 6% note to settle an open account from A Murdock Accrued interest revenue on all notes receivable. om Co. (Omit cost of goods sold entries) (Credit account titles are outomatically indented when

Q: I can't get the right answer becases there is more quantity

A:

Q: It says that step a is wrong. That those are not the right ROI's. Is there another way to solve that…

A: Introduction:- Return on investment indicates how well an investment performed in comparison to the…

Q: You need to briefly describe the “Margin of Safety”. Do companies typically want to maximize or…

A: The margin of Safety - MOS is the difference between actual sales and break-even sales. The margin…

Q: Why use the high-low method? Multiple Choice It has greater computational complexity. It is…

A: The high-low method is a simple technique used in cost accounting to determine variable and fixed…

Q: why do managers use IRR for strategic decison more than NPV?

A: Capital Budgeting tools and techniques help managers appraise investment opportunities.  It is…

Q: part of a process happen without negatively impacting another part? What are some reasons for erring…

A: Lean methodology eliminates waste to the core in a process and ensures that reduction in delays…

Q: In your own words, why do we need control plans?

A: Control plan is a document that states the measures to maintain the quality of the products. It…

Q: A lessee should initially measure a lease liability at: O a. The present value of the lease payments…

A: According to IFRS 16, the lease liability is the present value of the total amount of financial…

Q: List the disadvantages of decentralization.

A: Decentralization refers to a company's top management delegating authority to subunits of the…

Q: rovide another example of a cost center and explain why you choose that example.

A: Cost center is a department or function within an organization that does not directly add to profit…

Q: The period set is arbitrary. It to understand

A: Payback period is the no. of years required to recover the initial amount invested.

Q: List five ways that management can seek to relax a constraint by expanding the capacity of a…

A: Theory of constraints:   A binding constraint can restrict a profitability of a company. For…

Q: The revenue risk can be significantly reduced if these revenue sources move in _____ Group of answer…

A: risk is the degree of uncertainty of occurring or non-occurring of worse things, in generally…

Q: I need help trying to figure out where these go.

A: Petty Cash is the small sum of money maintained by the organisation seperate from Cash to meet small…

Q: Explain why planning and distributing a mass-market system release is costly.

A: It is Extremely Expensive. Mass marketing is extremely expensive form of marketing and it is usually…

Q: X % X % X % X % X % X % X % X % X % X % X % 0000011111I 0000000000 %24 %24 %24 %24 %24 %24 %24

A: Particulars increase or decrease amount Increase or decrease% Sales 93, 806 14.52% Cost of Goods…

Q: Networks would be inoperable without protocols. Explain their importance and what functions they…

A: Protocol:   Protocols are the rules and instruction which are formed and followed to send or receive…

Q: ACME Products has the option to invest in one of the following two conveyor systems. MARR is 15%.…

A: GIVEN, SYSTEM 1 initial investment =$350,000 annual cashflow= $84,900 life = 6 years salvage value…

Bad Debts

At the end of the accounting period, a financial statement is prepared by every company, then at that time while preparing the financial statement, the company determines among its total receivable amount how much portion of receivables is collected by the company during that accounting period.  

Accounts Receivable

The word “account receivable” means the payment is yet to be made for the work that is already done. Generally, each and every business sells its goods and services either in cash or in credit. So, when the goods are sold on credit account receivable arise which means the company is going to get the payment from its customer to whom the goods are sold on credit. Usually, the credit period may be for a very short period of time and in some rare cases it takes a year.