Advanced Accounting
7th Edition
ISBN: 9781119373209
Author: JETER, Paul K. Chaney
Publisher: WILEY
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Sims Inc. had a $195,000beginning balance in Accounts Receivable. During the year, credit sales totaled $820,000, and collections from customers amounted to $700,000. What was the net amount of receivables included in current assets at the end of the year, before any provision for doubtful accounts?
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- I need help with this general accounting question using standard accounting techniques.arrow_forwardProvide right answerarrow_forwardOn August 1, the accounts receivable account balance of Jenson Corp was $84,200. During August, $312,000 was collected from customers on account. Assuming the August 31 balance was $81,600, determine the fees billed to customers on account during August.arrow_forward
- Provide answerarrow_forwardRivana Co. has a beginning receivables balance on March 1 of $1,280. Sales for March through June are $790, $860, $1,150, and $2,050, respectively. The accounts receivable period is 30 days. What is the amount of the May collections? Assume a year has 360 days.arrow_forwardSolve this Accounting problemarrow_forward
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