Brightstar Financial Services recorded several financial transactions during the period. The company received $38,500 in cash from credit customers and allowed $3,200 in sales discounts. Additionally, $2,100 in bad debts were written off. Given that the beginning balance of Accounts Receivable was $92,000, calculate the ending balance of Accounts Receivable. Help

Brightstar Financial Services recorded several financial transactions during the period. The company received $38,500 in cash from credit customers and allowed $3,200 in sales discounts. Additionally, $2,100 in bad debts were written off. Given that the beginning balance of Accounts Receivable was $92,000, calculate the ending balance of Accounts Receivable. Help

College Accounting, Chapters 1-27

23rd Edition

ISBN:9781337794756

Author:HEINTZ, James A.

Publisher:HEINTZ, James A.

Chapter16: Accounting For Accounts Receivable

Section: Chapter Questions

Problem 1CE

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A customer was unable to pay the accounts receivable on time in the amount of $34,000. The customer was able to negotiate with the company and transferred the accounts receivable into a note that includes interest, along with an up-front cash payment of $6,000. The note maturity date is 24 months with a 15% annual interest rate. What is the entry to recognize this transfer?
Brightstar Financial Services recorded several financial transactions during the period. The company received $38,500 in cash from credit customers and allowed $3,200 in sales discounts. Additionally, $2,100 in bad debts were written off. Given that the beginning balance of Accounts Receivable was $92,000, calculate the ending balance of Accounts Receivable.
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Calculate the ending balance of Accounts Receivable.
Liang Company began operations in Year 1. During its first two years, the company completed a number of transactions involving sales on credit, accounts receivable collections, and bad debts. These transactions are summarized as follows. Year 1 Sold $1,350,700 of merchandise on credit (that had cost $984,200), terms n/30. Wrote off $19,700 of uncollectible accounts receivable. Received $674,900 cash in payment of accounts receivable. In adjusting the accounts on December 31, the company estimated that 1.30% of accounts receivable would be uncollectible. Year 2 Sold $1,533,900 of merchandise (that had cost $1,314,500) on credit, terms n/30. Wrote off $33,700 of uncollectible accounts receivable. Received $1,115,300 cash in payment of accounts receivable. In adjusting the accounts on December 31, the company estimated that 1.30% of accounts receivable would be uncollectible. Required:Prepare journal entries to record Liang’s Year 1 and Year 2 summarized transactions and its year-end…
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Liang Company began operations in Year 1. During its first two years, the company completed a number of transactions involving sales on credit, accounts receivable collections, and bad debts. These transactions are summarized as follows. Year 1 a. Sold $1,345,434 of merchandise (that had cost $975,000) on credit, terms n∕30. b. Wrote off $18,300 of uncollectible accounts receivable. c. Received $669,200 cash in payment of accounts receivable. d. In adjusting the accounts on December 31, the company estimated that 1.5% of accounts receivable would be uncollectible. Year 2 e. Sold $1,525,634 of merchandise on credit (that had cost $1,250,000), terms n∕30. f. Wrote off $27,800 of uncollectible accounts receivable. g. Received $1,204,600 cash in payment of accounts receivable. h. In adjusting the accounts on December 31, the company estimated that 1.5% of accounts receivable would be uncollectible. Required Prepare journal entries to record Liang’s summarized transactions and its year-end…
Northgate Apparel co. has the following balance... Please answer the accounting question
What is the ending account receivable balance?
Please help me
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Calculate the ending balance of accounts receivable