Business, 15.12.2020 16:10 jmathematics7806
Skysong, Inc. had net credit sales during the year of $1090600 and cost of goods sold of $604000. The balance in accounts receivable at the beginning of the year was $114000 and at the end of the year was $152000. What was the accounts receivable turnover?
A. 10.20
B. 5.00
C. 8.20
D. 6.90
Answers: 3
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Business, 22.06.2019 22:40
Johnson company uses the allowance method to account for uncollectible accounts receivable. bad debt expense is established as a percentage of credit sales. for 2018, net credit sales totaled $6,400,000, and the estimated bad debt percentage is 1.40%. the allowance for uncollectible accounts had a credit balance of $61,000 at the beginning of 2018 and $49,500, after adjusting entries, at the end of 2018.required: 1. what is bad debt expense for 2018 as a percent of net credit sales? 2. assume johnson makes no other adjustment of bad debt expense during 2018. determine the amount of accounts receivable written off during 2018.3. if the company uses the direct write-off method, what would bad debt expense be for 2018?
Answers: 1
Skysong, Inc. had net credit sales during the year of $1090600 and cost of goods sold of $604000. Th...
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