Business, 30.10.2021 17:00 jaciecaylen

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
New attempt is in progress. Some of the new entries may impact the last attempt grading.
Prepare the journal entries to record each of these five transactions. Assume that no cash discounts were taken on the collections of accounts receivable.

Answers: 3

Show answers

Another question on Business

Business, 22.06.2019 18:00

When peter metcalf describes black diamond’s manufacturing facility in china as a “greenfield project,” he means that partnered with a chinese company to buy the plant . of all market entry strategies, this one carries the lowest risk. because black diamond manufactures its outdoor sports products outside the united states, what risks must its managers be aware of?

Answers: 1

Answer

Business, 22.06.2019 20:00

Edna gomez is the founder of the restaurant chain good and green. she ensures that the products in her stores are ethically and responsibly sourced. most products are therefore 100 percent organic and all packaging is manufactured from recycled material. also, her company sources ingredients from farms within 100 miles from her locations. edna's belief is that her restaurants should be able to support the community at large. which of the following terms best describes edna gomez? a. headhunter b. category captain c. social entrepreneur d. trade creditor

Answers: 3

Answer

Business, 22.06.2019 21:40

The following items could appear on a bank reconciliation: a. outstanding checks, $670. b. deposits in transit, $1,500. c. nsf check from customer, no. 548, for $175. d. bank collection of note receivable of $800, and interest of $80. e. interest earned on bank balance, $20. f. service charge, $10. g. the business credited cash for $200. the correct amount was $2,000. h. the bank incorrectly decreased the business's by $350 for a check written by another business. classify each item as (1) an addition to the book balance, (2) a subtraction from the book balance, (3) an addition to the bank balance, or (4) a subtraction from the bank balance.

Answers: 1

Answer

Business, 22.06.2019 23:10

Which of the following best explains the purpose of a strike? a. to pressure employers to increase the minimum wage. b. to make sure that producers don't make any profit. c. to get employers to submit to collective bargaining. d. to prevent employers from taking industrial action.

Answers: 2

Answer

You know the right answer?

At December 31, 2016, Flint Corporation Imports reported this information on its balance sheet. Ac...

Questions