Richman Corp. had a beginning balance in accounts receivable of $70,000 and an ending balance of $91,000. Credit sales during the period were $598,000. Determine cash collections.
Answer to relevant QuestionsRuth Company has been in business several years. At the end of the current year, the unadjusted trial balance shows:Accounts Receivable.......... $ 310,000 Dr.Sales Revenue.............. 2,200,000 Cr.Allowance for Doubtful ...On January 10, Allison Milo uses her Crawford Co. credit card to purchase merchandise from Crawford Co. for $1,700. On February 10, Milo is billed for the amount due of $1,700. On February 12, Milo pays $1,100 on the balance ...Shannon Corp. had the following balances in receivable accounts at October 31, 2014 (in thousands): Allowance for Doubtful Accounts $52; Accounts Receivable $2,910; Other Receivables $189; Notes Receivable ...At December 31, 2013, Weiss Imports reported this information on its balance sheet.Accounts receivable $600,000Less: Allowance for doubtful accounts 37,000During 2014, the company had the following transactions related to ...At December 31, 2013, Dustin Company reported this information on its balance sheet.Accounts receivable............ $960,000Less: Allowance for doubtful accounts.... 78,000During 2014, the company had the ...
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