Please given correct option general accounting The ending balance of the Accounts Receivable account was$10,000 and the beginning balance was $14,000. Services billedto customers for the period were $21,500. What was the amountof collections from customers?a. $17,500b. $25,500.c. None of the other alternatives are correct.d. $45,500e. $31,500

Step 1: Define Cash ReceiptsCash receipts to the seller come from cash sales and collection of…

Answered: The ending balance of the Accounts…

Principles of Accounting Volume 1

19th Edition

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Chapter7: Accounting Information Systems

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Problem 5EB: Catherines Cookies has a beginning balance in the Accounts Receivable control total account of...

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3. Below are the subledger accounts receivable for Emilio Company: Anthony.. Malaya Mekhi. Omari. Kaytana. Total. $ 7,200 9,700 18,200 37,000 900 $73,000 There is no balance in the Allowance for Doubtful accounts. Instructions a. Prepare the appropriate journal entries given the following transactions: i. the controller would like you the write off the following accounts as uncollectible: 7,200 18,200 Anthony. Mekhi.. Кaytana. 900 ii. received payment from Malaya for $2,600 iii. collected $7,200 from the Anthony account iv. write off the balance in the Malaya account v. collected $18,000 from Mekhi, the remainder will not be collectible vi. the controller estimates that 2% of the total accounts receivable balance will be uncollectible b. What is the net realizable value of the accounts receivable after all adjustments? Date Account Titles and Explanation PR Debit Credit
On January 1, Year 2, the Accounts Receivable balance was $32,900 and the balance in the Allowance for Doubtful Accounts was $4,100. On January 15, Year 2, an $1,210 uncollectible account was written-off. The net realizable value of accounts receivable immediately after the write-off is: Multiple Choice $27,590. $31,690. $30.010. $28,800.
i
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The Allowance for uncollectible accounts currently has a debit balance of $200. The company's management estimates that 2.5% of net credit sales will be uncollectible. Net credit sales are $115,000. What will be the balance of the Allowance for uncollectible accounts reported on the balance sheet? a. $3,075 b. $3,275 c. $2,875 d. $2,675
A wants you to calculate its average days in accounts receivable for theyear. Its beginning and ending balances for Accounts Receivable were $11,500 and$17,250, including GST, respectively. The beginning and ending balances for theAllowance account were $350 and $500, respectively. All sales are on credit andamounted to $135,000, while the ending balance for Sales Returns & Allowances was$10,000. What is the average days in accounts receivable?a. 35.26.b. 41.98.c. 40.73d. 36.50.
Charleston, Incorporated has Accounts Receivable of $260,000 and an Allowance for Doubtful Accounts of $16,000. If it writes-off a customer account balance of $1,600, what is the amount of its net accounts receivable? Multiple Choice $260,000 $242,400 $244,000 $258,400
Can you help me with D,E and F?
Can you help me with A,b,c,e and f?
A company’s accounts receivable balance after posting net collections from customers is $150,000. Management has determined the following: $100,000 of the accounts that are 1 to 30 days past due are 2% uncollectible; and $50,000 of the accounts that are 31 to 60 days past due are 10% uncollectible. What is the net realizable value of the accounts receivable? $150,000 $148,000 $145,000 $143,000
Using the data in the preceding question, assume accounts receivable had a beginning balance of $67,400 and net credit sales for the current year totaled $807,800. How many days did it take Schultz to collect its average level of receivables? a. 49 b. 35 c. 29 d. 26
Accounts Receivable has a balance of $30,000, and the Allowance for Bad Debts has a credit balance of $3,200. The allowance method is used. What is the net realizable value of Accounts Receivable before and after a $2,100 account receivable is written off? OA. $24,700; $28,900 B. $26,800; $26,800 OC. $26,800; $24,700 D. $24,700; $24,700

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