Homework Answers
T account
| Account receivable | |||
| Jan 1 | 563000 | 2 | 52000 |
| 1 | 2470000 | 3 | 2170000 |
| 5 | 15000 | 4 | 45000 |
| 5 | 15000 | ||
| Dec 31 | 766000 | ||
| Allowance for doubtful accounts | |||
| 4 | 45000 | Jan 1 | 39000 |
| 5 | 15000 | ||
| Dec 31 | 9000 | ||
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Problem 8-02A (Part Level Submission) At December 31, 2021, Wildhorse Imports reported this information on its bal...
Problem 8-02A (Part Level Submission) At December 31, 2021, Pharoah Imports reported this information on its balan...
Problem 8-02A (Part Level Submission) At December 31, 2021, Pharoah Imports reported this information on its balance sheet. Accounts receivable Less: Allowance for doubtful accounts $558,400 39,000 During 2022, the company had the following transactions related to receivables. 1. 2. Sales on account Sales returns and allowances Collections of accounts receivale Write-offs of accounts receivable deemed uncollectible Recovery of bad debts previously written off as uncollectible $2,015,000 65,100 1,715,000 42,000 14,000 4. 5. (b) Enter the January 1, 2022, balances...
Problem 8-02A (Part Level Submission) At December 31, 2021, Pharoah Imports reported this information on its...
Problem 8-02A (Part Level Submission) At December 31, 2021, Pharoah Imports reported this information on its balance sheet. Accounts receivable Less: Allowance for doubtful accounts $558,400 39,000 During 2022, the company had the following transactions related to receivables. 1. 2. 3. 4. Sales on account Sales returns and allowances Collections of accounts receivable Write-offs of accounts receivable deemed uncollectible Recovery of bad debts previously written off as uncollectible $2,015,000 65,100 1,715,000 42,000 14,000 Prepare the journal entries to record each...
At December 31, 2021, Ivanhoe Imports reported this information on its balance sheet. Accounts receivable Less:...
At December 31, 2021, Ivanhoe Imports reported this information on its balance sheet. Accounts receivable Less: Allowance for doubtful accounts $615,000 35,000 During 2022, the company had the following transactions related to receivables. 1. Sales on account 2. Sales returns and allowances 3. Collections of accounts receivable 4. Write-offs of accounts receivable deemed uncollectible 5. Recovery of bad debts previously written off as uncollectible $3,020,000 50.000 2,720,000 45,000 21.000 (b) Enter the January 1, 2022, balances in Accounts Receivable and...
View Policies Show Attempt History Current Attempt in Progress At December 31, 2021. Wildhorse Imports reported...
View Policies Show Attempt History Current Attempt in Progress At December 31, 2021. Wildhorse Imports reported this information on its balance sheet. Accounts receivable Less: Allowance for doubtful accounts $563,000 39,000 During 2022, the company had the following transactions related to receivables. 1. 2. 3. Sales on account Sales returns and allowances Collections of accounts receivable Write-offs of accounts receivable deemed uncollectible Recovery of bad debts previously written off as uncollectible $2,470,000 52,000 2,170,000 45,000 15,000 4. 5. Question 6...
At December 31, 2021, Oriole Imports reported this information on its balance sheet. Accounts receivable Less:...
At December 31, 2021, Oriole Imports reported this information on its balance sheet. Accounts receivable Less: Allowance for doubtful accounts $620,000 42,000 During 2022, the company had the following transactions related to receivables. 1 Sales on account 2. Sales returns and allowances 3. Collections of accounts receivable 4. Write-offs of accounts receivable deemed uncollectible 5. Recovery of bad debts previously written off as uncollectible $2,810,000 63,000 2,510,000 44,000 15,000 Your answer is correct. Prepare the journal entries to record each...
At December 31, 2021, Cullumber Imports reported this information on its balance sheet. Accounts receivable $640,000...
At December 31, 2021, Cullumber Imports reported this information on its balance sheet. Accounts receivable $640,000 Less: Allowance for doubtful accounts 41,000 During 2022, the company had the following transactions related to receivables. 1. Sales on account $3,060,000 2. Sales returns and allowances 50,000 3. Collections of accounts receivable 2,760,000 4. Write-offs of accounts receivable deemed uncollectible 42,000 5. Recovery of bad debts previously written off as uncollectible 20,000 Prepare the journal entries to record each of these five transactions....
At December 31, 2016, Flint Corporation Imports reported this information on its balance sheet. Accounts receivable...
At December 31, 2016, Flint
Corporation Imports reported this information on its balance
sheet.
Accounts receivable
$560,400
Less: Allowance for doubtful accounts
37,640
During 2017, the company had the following transactions related to
receivables.
1.
Sales on account
$2,968,300
2.
Sales returns and allowances
92,202
3.
Collections of accounts receivable
2,518,800
4.
Write-offs of accounts receivable deemed uncollectible
43,310
5.
Recovery of bad debts previously written off as
uncollectible
15,840
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At December 31, 2017, Oak Ridge Imports Inc. reported this information on its balance sheet. Accounts...
At December 31, 2017, Oak Ridge Imports Inc. reported this information on its balance sheet. Accounts receivable Less: Allowance for doubtful accounts $549,000 40,000 During 2018, the company had the following summary transactions related to receivables and sales. Oak Ridge uses the perpetual inventory system. 1. Sales on account amounted to $2,277,000. The cost of the inventory sold was $1,935,450. 2. Sales returns and allowances with a total sales price of $37,000 and a cost of $31,450 were restored to...
At December 31, 2021, Cullumber Imports reported this information on its balance sheet. Accounts recelvable $525,000...
At December 31, 2021, Cullumber Imports reported this information on its balance sheet. Accounts recelvable $525,000 34,000 Less: Allowance for doubtful accounts During 2022, the company had the following transactions related to receivables. 1. Sales on account $2,510,000 Sales returns and allowances Collections of accounts receivable 4. 2. 53,000 3. 2,210,000 Write-offs of accounts receivable deemed uncollectible 5. Recovery of bad debts previously written off as uncollectible 44,000 17,000 (a) Prepare the journal entries to record each of these five...
At December 31, 2017, Crown Point Imports Inc. reported this information on its balance sheet.
Question 3At December 31, 2017, Crown Point Imports Inc. reported this information on its balance sheet. Accounts receivable $616,000 Less: Allowance for doubtful accounts 44,000 During 2018, the company had the following summary transactions related to receivables and sales. Crown Point uses the perpetual inventory system. 1. Sales on account amounted to $2,339,000. The cost of the inventory sold was $2,151,880. 2. Sales returns and allowances with a total sales price of $39,000 and a cost of $35,880 were restored to inventory. 3. Collections of accounts receivable...
Problem 8-02A (Part Level Submission) At December 31, 2021, Pharoah Imports reported this information on its balance sheet. Accounts receivable Less: Allowance for doubtful accounts $558,400 39,000 During 2022, the company had the following transactions related to receivables. 1. 2. Sales on account Sales returns and allowances Collections of accounts receivale Write-offs of accounts receivable deemed uncollectible Recovery of bad debts previously written off as uncollectible $2,015,000 65,100 1,715,000 42,000 14,000 4. 5. (b) Enter the January 1, 2022, balances...
Problem 8-02A (Part Level Submission) At December 31, 2021, Pharoah Imports reported this information on its balance sheet. Accounts receivable Less: Allowance for doubtful accounts $558,400 39,000 During 2022, the company had the following transactions related to receivables. 1. 2. 3. 4. Sales on account Sales returns and allowances Collections of accounts receivable Write-offs of accounts receivable deemed uncollectible Recovery of bad debts previously written off as uncollectible $2,015,000 65,100 1,715,000 42,000 14,000 Prepare the journal entries to record each...
At December 31, 2021, Ivanhoe Imports reported this information on its balance sheet. Accounts receivable Less: Allowance for doubtful accounts $615,000 35,000 During 2022, the company had the following transactions related to receivables. 1. Sales on account 2. Sales returns and allowances 3. Collections of accounts receivable 4. Write-offs of accounts receivable deemed uncollectible 5. Recovery of bad debts previously written off as uncollectible $3,020,000 50.000 2,720,000 45,000 21.000 (b) Enter the January 1, 2022, balances in Accounts Receivable and...
View Policies Show Attempt History Current Attempt in Progress At December 31, 2021. Wildhorse Imports reported this information on its balance sheet. Accounts receivable Less: Allowance for doubtful accounts $563,000 39,000 During 2022, the company had the following transactions related to receivables. 1. 2. 3. Sales on account Sales returns and allowances Collections of accounts receivable Write-offs of accounts receivable deemed uncollectible Recovery of bad debts previously written off as uncollectible $2,470,000 52,000 2,170,000 45,000 15,000 4. 5. Question 6...
At December 31, 2021, Oriole Imports reported this information on its balance sheet. Accounts receivable Less: Allowance for doubtful accounts $620,000 42,000 During 2022, the company had the following transactions related to receivables. 1 Sales on account 2. Sales returns and allowances 3. Collections of accounts receivable 4. Write-offs of accounts receivable deemed uncollectible 5. Recovery of bad debts previously written off as uncollectible $2,810,000 63,000 2,510,000 44,000 15,000 Your answer is correct. Prepare the journal entries to record each...
At December 31, 2016, Flint
Corporation Imports reported this information on its balance
sheet.
Accounts receivable
$560,400
Less: Allowance for doubtful accounts
37,640
During 2017, the company had the following transactions related to
receivables.
1.
Sales on account
$2,968,300
2.
Sales returns and allowances
92,202
3.
Collections of accounts receivable
2,518,800
4.
Write-offs of accounts receivable deemed uncollectible
43,310
5.
Recovery of bad debts previously written off as
uncollectible
15,840
8 Post Gaogle Docs Get Homework Help With C aided...
At December 31, 2017, Oak Ridge Imports Inc. reported this information on its balance sheet. Accounts receivable Less: Allowance for doubtful accounts $549,000 40,000 During 2018, the company had the following summary transactions related to receivables and sales. Oak Ridge uses the perpetual inventory system. 1. Sales on account amounted to $2,277,000. The cost of the inventory sold was $1,935,450. 2. Sales returns and allowances with a total sales price of $37,000 and a cost of $31,450 were restored to...
At December 31, 2021, Cullumber Imports reported this information on its balance sheet. Accounts recelvable $525,000 34,000 Less: Allowance for doubtful accounts During 2022, the company had the following transactions related to receivables. 1. Sales on account $2,510,000 Sales returns and allowances Collections of accounts receivable 4. 2. 53,000 3. 2,210,000 Write-offs of accounts receivable deemed uncollectible 5. Recovery of bad debts previously written off as uncollectible 44,000 17,000 (a) Prepare the journal entries to record each of these five...
Question 3At December 31, 2017, Crown Point Imports Inc. reported this information on its balance sheet. Accounts receivable $616,000 Less: Allowance for doubtful accounts 44,000 During 2018, the company had the following summary transactions related to receivables and sales. Crown Point uses the perpetual inventory system. 1. Sales on account amounted to $2,339,000. The cost of the inventory sold was $2,151,880. 2. Sales returns and allowances with a total sales price of $39,000 and a cost of $35,880 were restored to inventory. 3. Collections of accounts receivable...
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