Need help with this general accounting question not use ai For the month of November, the records of Horizon Technologies show the followinginformation:Cash received on accounts receivable: $80,000Cash sales: $75,000Accounts Receivable, November 1: $140,000Accounts Receivable, November 30: $130,000Accounts Receivable written off as uncollectible: $3,000The corporation uses the direct write-off method in accounting for uncollectibleaccounts receivable. What are the gross sales for the month of November?(a) $132,000(b) $135,000(c) $148,000(d) $155,000

Step 1: Define Gross SalesGross sales represent the total revenue generated from all sales…

Answered: For the month of November, the records…

Financial Accounting

15th Edition

ISBN:9781337272124

Author:Carl Warren, James M. Reeve, Jonathan Duchac

Publisher:Carl Warren, James M. Reeve, Jonathan Duchac

Chapter5: Accounting Systems

Section: Chapter Questions

Problem 8E

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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?
Catherines Cookies has a beginning balance in the Accounts Payable control total account of $8,200. In the cash disbursements journal, the Accounts Payable column has total debits of $6,800 for November. The Accounts Payable credit column in the purchases journal reveals a total of $10,500 for the current month. Based on this information, what is the ending balance in the Accounts Payable account in the general ledger?
Please answer it properly
Haresh
Sunland Company has a balance in its Accounts Receivable control account of $11,100 on January 1, 2022. The subsidiary ledger contains three accounts: Bixler Company, balance $4,400; Cuddyer Company, balance $2,500; and Freeze Company. During January, the following receivable-related transactions occurred. Credit Sales Collections Returns Bixler Company $8,500 $7,600 $ 0 Cuddyer Company 6,900 2,200 2,500 Freeze Company 8,600 8,900 0 What is the January 1 balance in the Freeze Company subsidiary account? Balance in the Freeze Company subsidiary account $enter the Balance in the Freeze Company subsidiary account in dollars
Crane Company has a balance in its Accounts Receivable control account of $11,400 on January 1, 2022. The subsidiary ledger contains three accounts: Bixler Company, balance $3,900; Cuddyer Company, balance $2,100; and Freeze Company. During January, the following receivable-related transactions occurred. Bixler Company Cuddyer Company Freeze Company Credit Sales $9,000 6,500 8,100 Collections $7,700 2,500 8,700 Returns $0 2,700 0
Pharoah Company has a balance in its Accounts Receivable control account of $ 11,300 on January 1, 2022. The subsidiary ledger contains three accounts: Bixler Company, balance $ 3,700; Cuddyer Company, balance $ 2,900; and Freeze Company. During January, the following receivable-related transactions occurred. Credit Sales Collections Returns Bixler Company $ 8,600 $ 8,400 $ 0 Cuddyer Company 6,700 2,400 3,500 Freeze Company 8,200 9,300 0 (a) What is the January 1 balance in the Freeze Company subsidiary account? Balance in the Freeze Company subsidiary account $ enter the balance in the Freeze Company subsidiary account in dollars (b) What is the January 31 balance in the control account? Balance in the control account $ enter the balance in the control account in dollars (c) Compute the balances in the subsidiary accounts at the end of the month. Balances in the subsidiary accounts…
Crane Company has a balance in its Accounts Receivable control account of $11,400 on January 1, 2022. The subsidiary ledger contains three accounts: Bixler Company, balance $3,900; Cuddyer Company, balance $2,100; and Freeze Company. During January, the following receivable-related transactions occurred. Bixler Company Cuddyer Company Freeze Company Credit Sales Collections $9,000 6,500 8,100 $7,700 2,500 8,700 Returns What is the January 31 balance in the control account? Balance in the control account $ Balance in the Freeze Company subsidiary account $ $0 2,700 What is the January 1 balance in the Freeze Company subsidiary account? 0
The following information relates to a company’s accounts receivable: accounts receivable balance at the beginning of the year, $360,000: allowance for uncollectible accounts at the beginning, $30,000, credit sales during the year, $1,800,000; accounts receivable written off during the year $19,200; cash collections from customers; $1,740,000. the company estimates that the required year-end balance in the allowance for uncollectible accounts should be $40,080. What is the year-end gross and net accounts receivable balance?
The following transactions occurred for Salamon Co. in 2021. The beginning balance of Accounts Receivable is $200,000 and Allowance for Doubtful Accounts (ADA) has a credit balance of $10,000. Salamon recorded sales on account of $750,000. Salamon recorded cash sales of $270,000. Salamon Co. wrote off $8,000 of accounts receivable from Haar Co. that became uncollectible. Salamon Co. uses the allowance method. Salamon collected $625,000 of accounts receivable due. Salamon wrote off $2,500 of receivables from Starr that became uncollectible. Haar repaid Salamon half the amount that had been written off. (2 entries required) a. Prepare journal entries for all the above transactions b. Post the above entries to the T accounts for A/R and ADA and calculate the ending balance of each account. c. Based on the above transactions, if Salamon wants an adjusted ending balance in ADA of $14,000, prepare the necessary year end adjustment.
Can you answer this accounting question?
Blossom Company has a balance in its Accounts Receivable control account of $11,300 on January 1, 2022. The subsidiary ledger contains three accounts: Bixler Company, balance $4,200: Cuddyer Company, balance $2,200, and Freeze Company. During January the following receivable-related transactions occurred. Bixler Company Cuddyer Company Freeze Company (a) Credit Sales Collections $9,000 $7,900 2.600 8.800 7.100 8.500 Returns $0 3.000 Balance in the Freeze Company subsidiary account S 0 What is the January 1 balance in the Freeze Company subsidiary account?

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