The Accounts Payable account has a beginning balance of $11,900 and the company purchased $53,000 of supplies on account during the month. The ending balance was $19,100. How much did the company pay to creditors during the month? Multiple Choice $64,900 $72,100 $53,000 $45,800
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- The Accounts Receivable account has a beginning balance of $24,000 and the company provdes serices of $60,000 on account during the month. The ending balance was $18,00o. How much did the company receive from customers during the month? O $6,000. O $66,000. O $102,000. $54,000. • Previous MacBocReceiveables: A company has accounts recieveable of $6,333. Sales for the year were $9,800 . What is its average collection period? Show & expalin the work.ABC Incorporated, has a beginning receivables balance on January 1st of $620. Sales for January through April are $380, $410, $490 and $510, respectively. The accounts receivable period is 60 days. How much did the firm collect in the month of March? Assume 365 days per year. Multiple Choice $620 $490 $510 $380 $410
- The following information has been presented to you for 2018 by Wonder Projects Limited: September October November Rand Rand Rand Cash revenue 200 000 220 000 240 000 Credit revenue 120 000 180 000 190 000 Purchases (all credit) 130 000 140 000 120 000 Additional information: Collection of credit revenue: 50% in the month of invoice 30% one month after invoice 15% two months after invoice and the balance written off as irrecoverable. Purchases are on credit and are paid for one month after the purchase, less 5% Rent income amounts to R10 000 per The rent will increase by 8% on 1 October 2018. A fixed deposit of R150 000 will mature on 31 October 2018. Interest of R15 000 will also be received on this A new computer will be purchased on 3 September 2018 for R25 000 Salaries amount to R20 000 per A 10% increase will take effect on 1 October 2018. The owner is expected to take R5 000 cash from the business on 20 October…Compute for the Day Sales Outstanding of Company X and Y. Compare each other. Use 360 days. Company X Company Y Accounts Receivables P452,100 P233,200 Annual Sales P3,205,100 P1,956,200Your payables control account has balance at October 20X8 of $35000 credit_ During October, credit purchases were 67000 cash purchases were $3000 and payments made to suppliers_ excluding cash purchases and after deducting settlement discounts of 1,200 were $56000. Purchase returns were 3600._ What was the closing balance?'
- On April 30, Holden Company had an Accounts Receivable balance of $18,000. During the month of May. total credits to Accounts Receivable were $52,000 from customer payments. The May 31 Accounts Receivable balance was $13.000. What was the amount of credit sales during May? O $52,000. O $32,000. O $47,000. $57,000. O 55,000.a. Record Navis, Incorporated's sales for a month at $75,000. The items sold cost $62,500. Navis records sales at the total invoice amount. b. Record the return of $7,500 of the above sales within the 30-day return period. c. Record the receipt of payment on the remainder of the month's sales, assuming that customers purchasing $50,000 took advantage of a 2 percent cash discount for early payment. None of the customers taking advantage of the cash discount were among those that returned their purchases. Complete this question by entering your answers in the tabs below. Required A Required B Required C Record the receipt of payment on the remainder of the month's sales, assuming that customers purchasing $50,000 took advantage of a 2 percent cash discount for early payment. None of the customers taking advantage of the cash discount were among those that returned their purchases. Note: If no entry is required for a transaction/event, select "No journal entry required" in the first…A company has the following account balances at the end of the year:• Credit Sales = $400,000• Accounts receivable = $80,000• Allowance for Uncollectible Accounts = $400 credit The company estimates 1% of credit sales will be uncollectible. At what amount would Allowance for Uncollectible Accounts be reported in the current year’s balance sheet? a. $4,000.b. $4,400. c. $3,600. d. $800.
- At the beginning of 2009, Pental Company had the following balances: A/R = $122,000 Allowance for Uncollectible Accounts = $7,900 During 2009, their credit sales were $1,173,000 and collections on A/R were $1,150,000. The following additional transactions occurred during the year: Feb 17, wrote off XXX Account, $3.600 May 28, wrote off YYY Account, $2,400 Dec 15, wrote off ZZZ Account, $900 Dec 31, recorded bad debts expense assuming that Penman's policy is to record bad debts expense at 0.8% of credit sales (Hint: The allowance account is increased by 0.8% of credit sales regardless of write-offs.) Compute the ending balance in A/R and the allowance for uncollectible accounts. Show how Pental's Dec 31, 2009 balance sheet reports the two accounts.The payment schedule of purchases made on account is as follows: 75% during the month of purchase, 15% in the month after the month of purchase, and 10% in the subsequent month. Total credit purchases were P150,000 in October and P220,000 in December. Total payments on credit purchases were P209,250 in December. What were the credit purchases in the month of November? A) P200,000 B P195,000 P292,500 D P180,000Carla Vista Salon Supply Company has accounts receivable of $105,000 at March 31, 2025. An analysis of the accounts shows these amounts: Month of Sale March February December and January October and November Age of Accounts Current 1-30 days past due 31-90 days past due Over 90 days past due Balance, March 31 (a) 2025 $72,000 14,800 11,000 7,200 $105,000 Credit terms are 2/10, n/30. At March 31, 2025, there is a $2,900 credit balance in Allowance for Doubtful Accounts prior to adjustment. The company uses the percentage of receivables basis for estimating uncollectible accounts. The company's estimates of uncollectibles are as shown below: 2024 $78,600 7 2% 25 9,000 50 2,500 Estimated Percentage 1,000 $91,100 Uncollectible Determine the total estimated uncollectible accounts receivable at March 31, 2025. Total estimated uncollectibles accounts receivable $