Accounts Receivable & Collections

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• Leis Co.

  Collections of accounts receivable 2,810,000 4. Write-offs of accounts receivable deemed uncollectible 90,000 5.

• Working with Receivables

  October collections were $90,000. Additional data: September 30th we will debit balance in Accounts Receivable for $28,000. September 30th we will credit balance in Allowance for Uncollectible Accounts, $1,000.

• Fresh Co. estimated cash receipts; Planet Corp cash collected; Zurich cash flow

  E4 - 11 Determining cash collections on account The following information was taken from the 2005 financial statement of Planet Corporation: Accounts receivable, January 1, 2005 $ 21,600 Accounts receivable, December 31, 2005 $ 30,400 Sales

• Balancing sheet

  Sales of $280,000 less collections of $225,000 results in an ending accounts receivable balance of $55,000 as calculated below.

• Uncollectible Account Receivable - Allowance Method

  the allowance for uncollectible accounts was estimated to be 3% of uncollected accounts receivable each year.

• Calculating: accounts receivable balance, bad debt expense, accounts receivables written off and more...

  of accounts receivable contained $9,000 of probable uncollectible accounts.

• Description of Accounts Receivable

  Assume that no cash discounts were taken on the collections of accounts receivables. B) Enter January 1 2008 balances in Accounts Receivable and allowance for doubtful accounts, post the entries (use T accounts) and determine the balances.

• Accounts Receivables

  Bledel Company had accounts receivable of $100,000 on January 1, 2010. The only transactions that affected accounts receivable during 2010 were net credit sales of $1,000,000; cash collections of $900,000 and accounts written off of $30,000. a.

• Ending Accounts Receivable balance

  All sales are on account and so this would be the accounts receivable. The collections from customers are $198,000.

• Burnt Amber Corp: calculations in accounts receivable and cash collections

  cost of resources in accounts receivable and then forecast monthly sales in order to determine cash collections for June.