What is double entry for the following transaction: Paid cartons cars ltd a cheque for MK6,000
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What is double entry for the following transaction:
Paid cartons cars ltd a cheque for MK6,000
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- Please assist Should Plant World agree to deduct R500 from the invoice amount, how will this (2)Drama plc has a total balance on their receivables account at the year end of £54,500. After reviewing their customer accounts, Drama plc have decided to do the following: make a 50% specific provision relating to a debt of £9,200 create a general receivables provision of 2% Drama plc have a receivables provision brought forward of £2,850. What will be the value of the general receivables provision?£ 906 What will be the irrecoverable debt expense on the P or L? £ 2660 (Enter the values with no E sign, comma or decimal places)J. Whitlock Co. had $1,000 of credit cards sales. The net cash receipts were deposited immediately into Whitlock's bank account less a 5% fee. The entry to record this sales transaction would include a debit to:
- s19 - Enterprise X bank converted its $ 8000 registered in DTH at a rate of 3.20 TL to TL from 3.30 TL and made a transfer to its TL account in the same bank. Which is the registration to be made?A) CODE AND NAME OF THE ACCOUNT WILL RECEIVE DEBT 102 01 X Bank TL Account 26.400 102 02 X Base DTH 25.600 646 Foreign Exchange Profit 800B) CODE AND NAME OF THE ACCOUNT WILL RECEIVE DEBT 102 01 X Bank TL Account 25.600 654 Provision Expenses 800 102 02 X Base DTH 25.600C) CODE AND NAME OF THE ACCOUNT WILL RECEIVE DEBT 102 02 X Base DTH 26.400 102 01 X Bank TL Account 25.600 646 Foreign Exchange Profit 800D) THE CODE AND NAME OF THE ACCOUNT WILL RECEIVE DEBT 102 02 X Base DTH 25.600 102 01 X Bank TL Account 26.400 646 Foreign Exchange Profit 800E) CODE AND NAME OF THE ACCOUNT WILL RECEIVE DEBT 102 01 X Bank TL Account 25.600 656 Foreign Exchange Loss 800 102 02 X Base DTH 25.600Give the journal entry for paying off the notes (RM3,000) and accrued interest (RM200).
- On October 31, 2021, Butter Company engaged in the following transactions: 1. Obtained a Php500,000, six month loan from Dope Bank, discounted at 12%. The company pledged Php500,000 of accounts receivable as security for the loan. 2. Factored Php1,000,000 of accounts receivable without recourse on a non notification basis with DNA Company. DNA charged a factoring fee of 2% of the amount of receivables factored and withheld 10% of the amount factored. >What is the total amount of cash received from the financing of the receivables? >What is the amount of cash received from the pledged accounts receivables?plz solve!!Wraith Inc. factored without recourse its accounts receivable amounting to P100,000. Wraith received P82,000 as cash advance from the bank and the bank withheld 3,000 as contingency for uncollectible accounts. The bank charged Wraith P15,000 as finance service fee for factoring. How much is the loss on factoring from the transaction? a. Zero b. 10,000 c. 15,000 d. 20,000
- What is the correct answer and show the solution.Part 2 Now assume that on December 31, 2023, Sheridan enters into the following transactions related to the company's receivables: 1. 2. Sheridan sells the note receivable to Prairie Bank for $60,000 cash plus accrued interest. Given the creditworthiness of Sheridan's customer, the bank accepts the note without recourse and assesses a finance charge of 3.10%. Prairie Bank will collect the note directly from the customer. Sheridan factors some accounts receivable at the end of the year. Accounts totalling $35,000 are transferred to Skysong, Inc., with recourse. Skysong retains 5% of the balances and assesses a finance charge of 4% on the transfer. Skysong will collect the receivables from Sheridan's customers. The fair value of the recourse obligation is $4,700. Prepare the journal entry to record the transfer of the note receivable to Prairie Bank. (Round answers to O decimal places, e.g. 8,971. Credit account titles are automatically indented when the amount is entered. Do not indent…Bondi Bank agrees to lend Tawonga Construction Company Ltd $200 000 on 1 January. Tawonga Construction Company Ltd signs a $200 000, 4%, 9-month note. The entry made by Tawonga Construction Company Ltd on 1 January to record the proceeds and issue of the note is: O Dr Interest Expense 6 000 Dr Cash 194 000 Cr Notes Payable 200 000 O Dr Cash 200 000 Cr Notes Payable 200 000 O Dr Cash 200 000 Dr Interest Expense 6 000 Cr Notes Payable 206 000 O Dr Cash 200 000 Dr Interest Expense 6 000 Cr Notes Payable 200 000 Cr Interest Payable 6 000
