The Doyle Merchandising Company’s December 31 balance sheet contained the following information. If the Doyle Merchandising...
The Doyle Merchandising Company’s December 31 balance sheet
contained the following information. If the Doyle Merchandising
Company were to send invoices to its December 31 customers, what is
the total dollar amount of invoices the company would send?
|
Assets |
||
|
Current Assets |
||
|
Cash |
$9,000 |
|
|
Accounts Receivable |
$14,000 |
|
|
Allowance for Uncollectible Accounts |
$1,200 |
$12,800 |
|
Merchandise Inventory |
$26,000 |
|
|
Supplies |
$1,300 |
|
|
Prepaid Insurance |
$1,900 |
| a. |
$0 |
|
| b. |
$14,000 |
|
| c. |
$1,200 |
|
| d. |
$12,800 |
|
| e. |
$9,000 |
Homework Answers
| Total dollar amount of invoices the company would send = Accounts Receivable = $14000 | ||||||||||
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The Doyle Merchandising Company’s December 31 balance sheet
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Credit
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Credit
Cash
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Accounts receivable
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Inventory
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