roblem 4. Receivables The balance of PT Renjana's Receivables as of 31 December 2018 was IDR 1,389,000,000, allowance for doubtful accounts was IDR 27,780,000. The transactions for 2019 are as follows: Lending money on March 1, 2019, and receiving notes payable from PT Mirana IDR 120,000,000, 13%, 3 years. Similar money orders carry a 12% risk. (PVF3.12% = 0.71178; PVFOA3.12% = 2.40183). On September 1, 2019, as collateral for PT Nina's receivables Rp. 700,000,000 to Bank Mandiri as collateral for notes payable of 10%, Rp. 400,000,000, finance charge of 1% on notes payable. Lending money to PT Melati on October 1, 2019 IDR 50,000,000, 12%, 6 months. Write off PT Sarita's Rp 80,000,000 receivables due to bankruptcy. Factoring receivables of Rp. 700,000,000 to PT Kirana Finance, finance expense of 1.5% of the factored receivables and retained 1%. Credit sales of IDR 1,345,000,000. At the end of November 31, 2019, PT Nina's receivables were collateralized for IDR 280 million, 1% discount. Receiving payment of receivables that have been written off from PT Sarita Rp.20,000,000. On December 1, 2019, paid notes payable plus interest to Bank Mandiri. An estimated 2% of the outstanding receivables are uncollectible. Requested: Make a journal at PT Renjana for the above receivables transaction. Present the Receivables in the Statement of Finacial Position December 31, 2019 .
roblem 4. Receivables The balance of PT Renjana's Receivables as of 31 December 2018 was IDR 1,389,000,000, allowance for doubtful accounts was IDR 27,780,000. The transactions for 2019 are as follows: Lending money on March 1, 2019, and receiving notes payable from PT Mirana IDR 120,000,000, 13%, 3 years. Similar money orders carry a 12% risk. (PVF3.12% = 0.71178; PVFOA3.12% = 2.40183). On September 1, 2019, as collateral for PT Nina's receivables Rp. 700,000,000 to Bank Mandiri as collateral for notes payable of 10%, Rp. 400,000,000, finance charge of 1% on notes payable. Lending money to PT Melati on October 1, 2019 IDR 50,000,000, 12%, 6 months. Write off PT Sarita's Rp 80,000,000 receivables due to bankruptcy. Factoring receivables of Rp. 700,000,000 to PT Kirana Finance, finance expense of 1.5% of the factored receivables and retained 1%. Credit sales of IDR 1,345,000,000. At the end of November 31, 2019, PT Nina's receivables were collateralized for IDR 280 million, 1% discount. Receiving payment of receivables that have been written off from PT Sarita Rp.20,000,000. On December 1, 2019, paid notes payable plus interest to Bank Mandiri. An estimated 2% of the outstanding receivables are uncollectible. Requested: Make a journal at PT Renjana for the above receivables transaction. Present the Receivables in the Statement of Finacial Position December 31, 2019 .
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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Problem 4. Receivables
The balance of PT Renjana's Receivables as of 31 December 2018 was IDR 1,389,000,000, allowance for doubtful accounts was IDR 27,780,000. The transactions for 2019 are as follows:
- Lending money on March 1, 2019, and receiving notes payable from PT Mirana IDR 120,000,000, 13%, 3 years. Similar money orders carry a 12% risk. (PVF3.12% = 0.71178; PVFOA3.12% = 2.40183).
- On September 1, 2019, as collateral for PT Nina's receivables Rp. 700,000,000 to Bank Mandiri as collateral for notes payable of 10%, Rp. 400,000,000, finance charge of 1% on notes payable.
- Lending money to PT Melati on October 1, 2019 IDR 50,000,000, 12%, 6 months.
- Write off PT Sarita's Rp 80,000,000 receivables due to bankruptcy.
- Factoring receivables of Rp. 700,000,000 to PT Kirana Finance, finance expense of 1.5% of the factored receivables and retained 1%.
- Credit sales of IDR 1,345,000,000.
- At the end of November 31, 2019, PT Nina's receivables were collateralized for IDR 280 million, 1% discount.
- Receiving payment of receivables that have been written off from PT Sarita Rp.20,000,000.
- On December 1, 2019, paid notes payable plus interest to Bank Mandiri.
- An estimated 2% of the outstanding receivables are uncollectible.
Requested:
- Make a journal at PT Renjana for the above receivables transaction.
- Present the Receivables in the Statement of Finacial Position December 31, 2019 ..
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Problem 4. Receivables
b. Present the Receivables in the Statement of Finacial Position December
The balance of PT Renjana's Receivables as of 31 December 2018 was IDR
1,389,000,000, allowance for doubtful accounts was IDR 27,780,000. The
31, 2019 .
transactions for 2019 are as follows:
End of document I
1. Lending money on March 1, 2019, and receiving notes payable from
PT Mirana IDR 120,000,000, 13%, 3 years. Similar money orders
carry a 12% risk. (PVF3.12% = 0.71178; PVFOA3.12% = 2.40183).
2. On September 1, 2019, as collateral for PT Nina's receivables Rp.
700,000,000 to Bank Mandiri as collateral for notes payable of 10%,
Rp. 400,000,000, finance charge of 1% on notes payable.
3. Lending money to PT Melati on October 1, 2019 IDR 50,000,000,
12%, 6 months.
4. Write off PT Sarita's Rp 80,000,000 receivables due to bankruptcy.
5. Factoring receivables of Rp. 700,000,000 to PT Kirana Finance, fi-
nance expense of 1.5% of the factored receivables and retained 1%.
6. Credit sales of IDR 1,345,000,000.
7. At the end of November 31, 2019, PT Nina's receivables were collat-
eralized for IDR 280 million, 1% discount.
8. Receiving payment of receivables that have been written off from PT
Sarita Rp.20,000,000.
9. On December 1, 2019, paid notes payable plus interest to Bank Man-
diri.
10. An estimated 2% of the outstanding receivables are uncollectible.
Requested:
a. Make a journal at PT Renjana for the above receivables transaction.
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