BART Company started operations an January 01, 2008. The following are available as of June 30, 2008: Purchase of merchandise 450,000 75,000 P Inventory, June 30, 2008 Goods were sold at 50% above cost; 75% ofsales were on account Estimated bad debts Cllections from charge customers Allowance for doubtful accounts, June 30,2008 1% of credit sales 315,000 after write off of uncollectible accounts 3,903.75 The outstanding accounts receivable as of June 30, 2008 were:
BART Company started operations an January 01, 2008. The following are available as of June 30, 2008: Purchase of merchandise 450,000 75,000 P Inventory, June 30, 2008 Goods were sold at 50% above cost; 75% ofsales were on account Estimated bad debts Cllections from charge customers Allowance for doubtful accounts, June 30,2008 1% of credit sales 315,000 after write off of uncollectible accounts 3,903.75 The outstanding accounts receivable as of June 30, 2008 were:
College Accounting, Chapters 1-27
23rd Edition
ISBN:9781337794756
Author:HEINTZ, James A.
Publisher:HEINTZ, James A.
Chapter16: Accounting For Accounts Receivable
Section: Chapter Questions
Problem 2SEA: UNCOLLECTIBLE ACCOUNTSPERCENTAGE OF SALES Rossins Racers has total credit sales for the year of...
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100%
a. 110,000
b. 106,875
c. 106,560
d. 285,000
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