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at the end of the year email enterprises estimates the uncollectible accounts expense to be 08 percent of net sales of
during the current year merchandise is sold for 275000 cash and 990000 on account the cost of the merchandise sold is
at year end lam company had currency and coins in cash registers of 2800 money orders from customers of 500 deposits in
ball co purchased inventory with a list price of 4000 with the terms 210 n30 what amount will be debited to the
at what point should revenue be recognized in each of the following independent casescase a for christmas presents a
after the amount due on a sale of 18500 terms 210 neom is received from a customer within the discount period the
at the end of the current year the accounts receivable account of parkers nursery supplies has a debit balance of
on november 15 johnson repair service extended an offer of 35000 for land that had been priced for sale at 43000 on
corby is in business as a retail distributor the following is a list of his transactions for march 20121 goods
bob auto repairs inc started 2012 with total assets of 19000 and total liabilities of 9000 at the end of 2012 bobs
assume that as of january 1 2007 milliken consulting has total assets of 562500 and total liabilities of 350000 as of
answer each of the following independent questions concerning supplies and the adjustment for suppliesa the balance in
at the end of the current year the accounts receivable account has a debit balance of 650000 and net sales for the year
what is a sole proprietorship what are the major advantages and disadvantages of this form of business
assume that as of january 1 2011 hamlet consulting has total assets of 800000 and total liabilities of 300000 as of
the maker of a 10000 8 90-day note receivable failed to pay the note on the due date of june 30 what accounts should be
the following selected transactions were completed by cactus co a supplier of velcro for clothing2007dec 13 received
supplement recording sales discountsa sale is made for 8000 terms are 210 n30 at what amount should the sale be
sterling companys bank statement for the month of march included the following informationending balance march 31
softball magazine company received advance payments of 5000 from customers during 2009 at december 31 2009 1200 of the
smithson products sells shoes and accessories to retail stores gross sales in 2009 were 1500250 smithsons list price on
1 at december 31 2011 kale co had the following balances in the accounts it maintains at first state bankchecking
on september 30 2012 synergy bank loaned 88000 to kendall kelsing on a oneyear 12 noterequirements1 journalize all
a how is accounts receivable turnover computedb how is average collection period computedc what do these two
on january 6 petro co sells merchandise on account to chose inc for 9200 terms 110 n30 on january 16 chose pays the