Find the credit-card sales less refunds for the Sales/Refund record for 09/24/10.09/24/10SalesRefunds.....$62.06$469.89$48.74The credit-card sales less refunds for 09/24/10 is $$82.95$92.42$134.04$145.39$98.23$35.38$134.04$207.01$207.27$132.94 Find the current balance for the account.Balance from Bank Statement Outstanding Checks Deposits not yet Recorded$7916.05$98.88$781.52$485.91$71.66$64.47$73.27....The current balance is $

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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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Using the Allowance method supply the journal entries to bring back the written off Account Receivable and the payment for it. Write- off Method cash 15,000 accounts receivable 40,000 less: allowance for doubtful accounts 6,000 36,000 inventory 15,000 total current assets 66,000 before write off after Write off Accounts receivable 50,000 49,000 allowance for DA 3,000 2,0000 cash Realizable value 47,000 47,000
Please do not give image format I need help with what to put on the credit side of the accounts receivable. I was using a different question for reference and it came up as incorrect?
Dr. Cr. Accounts Receivable $ 165,800 Allowance for Doubtful Accounts $ 3,730 Sales Revenue (all on credit) 840,900 Sales Returns and Allowances 52,650 Prepare the journal entry to record bad debt expense assuming Novak Company estimates bad debts at (a) 5% of accounts receivable and (b) 5% of accounts receivable but Allowance for Doubtful Accounts had a $ 1,380 debit balance. (If no entry is required, select "No Entry" for the account titles and enter 0 for the amounts. Credit account titles are automatically indented when the amount is entered. Do not indent manually.) No. Account Titles and Explanation Debit Credit (a) enter an account title ? ? Allowance for doubtful accounts ? ? (b) enter an account title ? ? enter an account title ? ?
Find the actual percentage he spent for the month.Experts recommend using no more than 25% of available credit at one time.How does his actual percentage of spending compare with that guideline?
Journal entry worksheet
2.16) Find the average daily balance (new purchases included) Dates Payment End of Day Balance 4/1-4/5 4/6 4/7-4/22 4/23 4/24-4/30 Average $380.00 Purchase $110.00 Po X $300.00 x $410.00 x $410.00 X $30.00 X $30.00 x Total Number of Days v 5 1 16 1 7 30 Sum of Balances $1,500.00 $410.00 $6,560.00 $30.00 $210.00
Account Title Beginning Balance Ending Balance Accounts receivable $28,600 $40,500 Allowance for doubtful accounts 1,760 2,160 Notes receivable 47,200 47,200 Interest receivable 930 4,234 The note receivable has a two-year term with a 7.00 percent interest rate. What amount of interest revenue was recognized during the period? How much cash was collected from interest? Please explain how you find the cash received for interest
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us Kimmel, tinancial Accounting, Be US eo 1 Srstom Announcements CALCATO Brief Exercise 8-10 Piet ts first vear of operations, Pronghorn Corp had credit sales of $2,714,100, of which $429,000 remained uncollected at year-end. The credit manager estimates that $16,370 of these recevahles w be Prepare the journal entry to record the estimated uncollectibles. (Assume an unadjusted balance of zero in Allowance for Doubtful Accounts.) (Credit account titles are automatically indented whee ment c indent manually.) Account Titles and Explanation Debit Credit SHOW LIST OF ACCOUNTS LINK TO TEXT LINK TO TEXT INTERACTIVE TUTORIAL INTERACTIVE TUTORIAL Prepare the current assets section of the balance sheet for Pronghorn Corp, assuming that in addition to the receivables it has cash of $85,320, merchandise inventory of $163,960, and supplies of $13,290. (List current a arder of liquidity) Pronghorn Corp Balance Sheet (partial) wT O secouNTS
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Find the credit-card sales less refunds for the Sales/Refund record for 09/24/10. 09/24/10 Sales Refunds ..... $62.06 $469.89 $48.74 The credit-card sales less refunds for 09/24/10 is $ $82.95 $92.42 $134.04 $145.39 $98.23 $35.38 $134.04 $207.01 $207.27 $132.94