OPTION: $53000
EXPLANATION:
Cash collection for the month = beginning accounts receivable + credit sales - ending accounts receivable
= $37000 + $46000 - $30000
= $53000
The Accounts Receivable account for Johney's Mechanic Shep had a beginning balance of $37.000 During the...
The Accounts Receivable account for Johnny's Mechanic Shop had a beginning balance of $36,000. During the month, Johnny made sales on account of $42,000. The ending balance in the Accounts Receivable account is $33,000. What are cash collections for the month?
Sales on account during the month totaled $78,000. Cash
collections of accounts receivable during the month totaled
$72,000. The balance in the Accounts Receivable account at the end
of the month was $31,000. No accounts receivable were written off
as uncollectible during the month. The balance in the Accounts
Receivable account at the beginning of the month was:
Sales on account during the month totaled $78,000. Cash collections of accounts receivable during the month totaled $72,000. The balance in the...
Novak Corp. had a beginning balance in accounts receivable of $69,770 and an ending balance of $82,510. Credit sales during the period were $623,320. Determine cash collections. Cash collections $
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Crane Inc. had a beginning balance in accounts receivable of $19,200. During the year, it had credit sales of $240,000. Crane received payments on account of $224,000. At the end of the year, accounts receivable has a: Multiple Choice credit balance of $3,200. O debit balance of $3,200. credit balance of $35,200. debit balance of $35,200.
Wildhorse Co. had a balance in the Accounts Receivable account of $768000 at the beginning of the year and a balance of $865000 at the end of the year. Net credit sales during the year amounted to $6532000. The average collection period of the accounts receivable in terms of days was 91.3 days. 35.0 days. 45.6 days. 48.0 days.
Oriole Company had a balance in the Accounts Receivable account of $778000 at the beginning of the year and a balance of $852000 at the end of the year. Net credit sales during the year amounted to $4075000. The accounts receivable turnover was A_ 5.0 times. B_ 4.8 times. C_ 5.2 times. D_ 2.5 times.
The Corporation had $130,000 in sales on account last year. The beginning accounts receivable balance was $10,000 and the ending accounts receivable balance was $16,000. The corporation's accounts receivable turnover was closest to: A. 10.00 B. 5.00 C. 13.00 D. 8.13
Question Help Smith & Co. reported sales of $515.000 beginning net Accounts Receivable of $218,000 and ending net Accounts Receivable of $224,000. What is Smith & Co.'s Accounts Receivable tumove OA 2.30 OB. 2.33 OC. 2.36 OD 1.17
The following information relates to a company's accounts receivable: accounts recelvable balance at the beginning of the year $350,000; allowance for uncollectible accounts at the beginning of the year, $24,000 (credit balance); credit sales during the year, $1,200,000; accounts receivable written off during the year, $15,000: cash collections from customers, $1.100,000. Assuming the company estimates that future bad debts will equal 12% of the year-end balance in accounts receivable. 1. Calculate the year-end balance in the allowance for uncollectible accounts 2. Calculate...