Missing information
The following information comes from the accounts of Kemper Company:
Account Title | Beginning Balance | Ending Balance |
Accounts Receivable | $30,000 | $36,000 |
Allowance for Doubtful Accounts | 1,800 | 2,400 |
Notes Receivable | 50,000 | 50,000 |
Interest Receivable | 1,000 | 5,000 |
Required
a.There were $180,000 in sales on account during the accounting period. Write offs of uncollectible accounts were $2,100. What was the amount of cash collected from accounts receivable? What amount of uncollectible accounts expense was reported on the income statement? What was the net realizable value of receivables at the end of the accounting period?
b.The note has an 8 percent interest rate and 24 months to maturity. What amount of interest revenue was recognized during the period? How much cash was collected for interest?
We need at least 10 more requests to produce the solution.
0 / 10 have requested this problem solution
The more requests, the faster the answer.