Business, 15.07.2020 01:01 MulletStaton3283
At the beginning of the current period, Rose Corp. had balances in Accounts Receivable of $200,000 and in Allowance for Doubtful Accounts of $9,000 (credit). During the period, it had net credit sales of $800,000 and collections of $763,000. It wrote off as uncollectible accounts receivable of $7,300. However, a $3,100 account previously written off as uncollectible was recovered before the end of the current period. Uncollectible accounts are estimated to total $25,000 at the end of the period.
1. Prepare the entries to record sales and collections during the period.
2. Prepare the entry to record the write-off of uncollectible accounts during the period.
3. Prepare the entries to record the recovery of the uncollectible account during the period.
4. Prepare the entry to record bad debt expense for the period.
No. Account Titles and Explanation Debit Credit
A) Accounts Receivable 800000
Sales Revenue 800000
(To record sales)
Cash 763000
Determine the ending balances in Accounts Receivable and Allowance for Doubtful Accounts.
Ending balance in Accounts Receivable 229700
Ending balance in Allowance for Doubtful Accounts 267000
What is the net realizable value of the receivables at the end of the period?
The net realizable value of the receivables at the end of the period 20300
Answers: 3
Other questions on the subject: Business
Business, 22.06.2019 03:20, emilyplays474
Look at this check register. calculate the current balance. check date transaction (+) deposit balance 5/1 5/3 $82.92 debit 8.00 78.24 005 monthly fee phone bill paycheck 1 125.00 5/15 5/17 5/20 atm 40.00 56.50 006 t ennis lessons the current balance is?
Answers: 1
Business, 22.06.2019 11:00, saurav76
When using various forms of promotion to carry the promotion message, it is important that the recipients of the message interpret it in the same way. creating a unified promotional message, where potential customers perceive the same message, whether it is in a tv commercial, or on a billboard, or in a blog, is called
Answers: 2
Business, 22.06.2019 16:40, krystalsozaa
Determining effects of stock splits oracle corp has had the following stock splits since its inception. effective date split amount october 12, 2000 2 for 1 january 18, 2000 2 for 1 february 26, 1999 3 for 2 august 15, 1997 3 for 2 april 16, 1996 3 for 2 february 22, 1995 3 for 2 november 8, 1993 2 for 1 june 16,1989 2 for 1 december 21, 1987 2 for 1 march 9, 1987 2 for 1 a. if the par value of oracle shares was originally $2, what would oracle corp. report as par value per share on its 2015 balance sheet? compute the revised par value after each stock split. round answers to three decimal places.
Answers: 1
Business, 22.06.2019 23:00, tonya3498
Which of the following is not one of the four principles of bottleneck management? a. increasing capacity at non-bottleneck stations is a mirageb. lost time at the bottleneck is lost system capacity. c. release work orders to the system at the bottleneck's capacity pace. d. increased bottleneck capacity is increased system capacity. e. bottlenecks should be moved to the end of the system process.
Answers: 1
You know the right answer?
At the beginning of the current period, Rose Corp. had balances in Accounts Receivable of $200,000 a...
Questions in other subjects:
Mathematics, 13.11.2019 17:31
Biology, 13.11.2019 17:31
English, 13.11.2019 17:31
World Languages, 13.11.2019 17:31
