On April 1, the cash account balance was $21,690. During April, cash receipts totaled $329,690 and the April 30 balance was $15,620. Determine the cash payments made during April.
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- what is the cash receipts for July if the cash balance is 26,590 and the totaled cash payment is 224,240 and the ending balance is 39,650The companys balance sheet showed an accounts receivble balance of $80,000 at the begininng of the year and $47,000 at the end of the year. The company reported $720,000 in credit sales for the year. What was the amount of cash collected on account receivables durig the yearDuring the year, Tempo Inc. has monthly cash expenses of $144,468. On December 31, its cash balance is $1,829,210. The ratio of cash to monthly cash expenses (rounded to one decimal place) is Oa. 13.7 months Ob. 12.7 months Oc. 6.4 months Od. 7.9 months
- A company recorded the following transactions: cash sales $10,000, credit sales $20,000, cash received from customers $15,000, and accounts receivable at the beginning of the period $5,000. Calculate the accounts receivable turnover ratio and the average collection period.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 financial statements of the Sunland Company report net sales of $384000 and accounts receivable of $50400 and $33600 at the beginning of the year and the end of the year, respectively. What is the average collection period for accounts receivable in days?
- On May 1, Jensen's had a beginning cash balance of $284. April sales were $810 and May sales were $960. During May, cash expenses were $360 and payments on accounts payable were $630. The accounts receivable period is 30 days. What is the beginning cash balance on June 1?The following information relates to a company’s accounts receivable: gross accounts receivable balance at the beginning of the year, $300,000; allowance for uncollectible accounts at the beginning of the year, $25,000 (credit balance); credit sales during the year, $1,500,000; accounts receivable written off during the year, $16,000; cash collections from customers, $1,450,000. Assuming the company estimates that future bad debts will equal 10% of the year-end balance in accounts receivable. 1. Calculate bad debt expense for the year.2. Calculate the year-end balance in the allowance for uncollectible accounts.The following information relates to a company’s accounts receivable: gross accounts receivable balance at the beginning of the year, $350,000; allowance for uncollectible accounts at the beginning of the year, $24,000 (credit balance); credit sales during the year, $1,200,000; accounts receivable written off during the year, $15,000; cash collections from customers, $1,100,000. Assuming the company estimates that future bad debts will equal 12% of the year-end balance in accounts receivable.1. Calculate bad debt expense for the year.2. Calculate the year-end balance in the allowance for uncollectible accounts.
- Beginning accounts receivable were $277,500 and ending accounts receivable were $303,300. Cash amounting to $2,950,000 was collected from customers' credit sales. Calculate the amount of sales on account during the period.On April 30, Gomez Services had an Accounts Receivable balance of $30,100. During the month of May, total credits to Accounts Receivable were $65,200 from customer payments. The May 31 Accounts Receivable balance was $24,000. What was the amount of credit sales during May?What is the total gross sales for November 2020?