On march 3, splish brothers inc. sells $666,900 of its receivables to national factors inc. national factors inc. assesses a service charge of its receivables to western factors inc. western factors inc. assesses a service charge of 5% of the amount of receivables sold. prepare the entry on sheridan company books to record the sale of the receivables.

You are opening a new store and must project in your business plan the amount of inventory shrinkage. you have forecasted $1,200,000 in sales for the first year. assuming your shrinkage will be 5%, the high end of the national average, calculate the projected annual shrinkage for your business plan. you are opening a new store and must project in your business plan the amount of inventory shrinkage. you have forecasted $1,200,000 in sales for the first year. assuming your shrinkage will be 5%, the high end of the national average, calculate the projected annual shrinkage for your business plan.

Match the given situations to the type of risks that a business may face while taking credit. 1. beta ltd. had taken a loan from a bank for a period of 15 years, but its sales are gradually showing a decline. 2. alpha ltd. has taken a loan for increasing its production and sales, but it has not conducted any research before making this decision. 3. delphi ltd. has an overseas client. the economy of the client’s country is going through severe recession. 4. delphi ltd. has taken a short-term loan from the bank, but its supply chain logistics are not in place. a. foreign exchange risk b. operational risk c. term of loan risk d. revenue projections risk

Swathmore clothing corporation grants its customers 30 days' credit. the company uses the allowance method for its uncollectible accounts receivable. during the year, a monthly bad debt accrual is made by multiplying 3% times the amount of credit sales for the month. at the fiscal year-end of december 31, an aging of accounts receivable schedule is prepared and the allowance for uncollectible accounts is adjusted accordingly. at the end of 2012, accounts receivable were dollar 586.000 and the allowance account had a credit balance of dollar 50,000. accounts receivable activity for 2013 was as follows: the company's controller prepared the following aging summary of year-end accounts receivable: prepare a summary journal entry to record the monthly bad debt accrual and the write-offs during the year. (if no entry is required for a particular event, select "no journal entry required" in the first account field.) prepare the necessary year-end adjusting entry for bad debt expense. (if no entry is required for an event, select "no journal entry required" in the first account field.) what is total bad debt expense for 2013? calculate the amount of accounts receivable that would appear in the 2013 balance sheet?