The beginning balance in accounts receivable is $44,000, the ending balance is $42,000, and sales during the period are $129,000. What are cash receipts from customers? (a) $127,000. (b) $129,000. (c) $131,000. (d) $141,000.
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- Smoltz Company reported the following information for the current year: cost of goods sold, $252,500; increase in inventory, $21,700; and increase in accounts payable, $12,200. What is the amount of cash paid to suppliers that Smoltz would report on its statement of cash flows under the direct method? a. $218,600 c. $262,000 b. $243,000 d. $286,400The actual cash received from the day’s cash sales was $27,214, and the amount indicated by the cash register total was $27,236. a. What is the amount deposited in the bank for the day's sales?$fill in the blank 1 b. What is the amount recorded for the day's sales?$fill in the blank 2 c. How should the difference be recorded? of $fill in the blank 4 should be recorded as d. If a cashier is consistently over or short, what action should be taken?The balance in Accounts Receivable at the beginning of the period amounted to $2,880. During the period $9,440 of credit sales were made to customers balance in Accounts Receivable amounted to $1,880, and uncollectible accounts expense amounted to $800, then the amount of cash inflow from customers appear in the operating activities section of the cash flow statement would be Multiple Choice $9.640 $9,440 $12.120 Nore of these answers are correct b
- (38) Credit sales for the year were $120,000. Collections on account were $108,000. What debit or credit should be included in the summary journal entry necessary to record the $108,000 cash collection on account? ○ Credit sales for $108,000 O Credit accounts receivable for $108,000 Debit sales for $108,000 O Debit accounts receivable for $108,000Guidry Corporation's beginning accounts receivable balance at January 1 was $200,000 and the ending accounts receivable balance at December 31 is $300,000. Assuming cash collections from receivables totaled $1,100,000, what were credit sales for the period? A. $1,300,000 B. $1,500,000 C. $1,200,000 D. $1,100,000Beginning and ending accounts receivable are $76,000 and $42,000, respectively. Sales for the period total $384,000, of which $40,000 was directly for cash. How much cash was collected from making sales and collecting accounts receivable? a) $418,000 b) $344,000 c) $378,000 d) $376,000
- Beginning accounts receivable were $135,600 and ending accounts receivable were $128,640. All sales were on credit and totaled $1,682,480. Determine how much cash was collected from customers.?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.jjj
- 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.sanjuAccounts Receivable Balance Beginning accounts receivable were $135,720 and ending accounts receivable were $128,640. All sales were on credit and totalled $1,682,480. Required: Determine how much cash was collected from customers.
