During July 2017, Bridgeport Enterprises recorded the following: Sales of $86,400 ($64,500 on account, $21,900 for cash)

Fantastic news! We've Found the answer you've been seeking!

Question:

During July 2017, Bridgeport Enterprises recorded the following:

Sales of $86,400 ($64,500 on account, $21,900 for cash)

Collections on account, $58,950

Write-offs of uncollectible receivables, $2,560

Recovery of receivable previously written off, $1,000

Journalize Bridgeport's transactions during July, assuming Bridgeport uses the allowance method

Related Book For answer-question

Entrepreneurial Finance

ISBN: 978-0133140514

6th edition

Authors: Philip J. Adelman; Alan M. Marks

See More Books

Posted Date: Sep 07, 2019 12:00 PM

See More Questions

The city of Charleston had the following sales of water for the selected months of 2016: Month ___________________________Sales February.....$50,000 March........45,000 April...........60,000...
Jane White has recorded the following sales figures for last year for her business: January, $35,645; February, $35,456; March, $31,270; April, $32,129; May, $34,456; June, $35,256; July, $36,218;...
Gizzardi Company has projected the following sales of Product #431 for the rst four months of 2010: January, 8,000 units; February, 7,600 units; March, 11,200 units; April, 5,800 units; and May,...
Find the dy/dx for the following 3 2x+1.2x+1 (x +1)4 1- y=-
Phoebe Black's investment club wants to buy the stock of either NewSoft, Inc. or Capital Corp. In this connection, Black prepared the following table. You have been asked to help her interpret the...
The lever BCD is hinged at C and attached to a control rod at B. If P = 100 lb, determine (a) the tension in rod AB, (b) the reaction at C. 7.5 in 90 3 in. 4 in
North Shore Architectural Stone, Inc., a company that installs limestone in residential and commercial buildings, agreed to supply and install limestone for a property owned by Joseph Vitacco. North...
Bowman Builders manufactures steel storage sheds for commercial use. Joe Bowman, president of Bowman Builders, is contemplating producing sheds for home use. The activities necessary to build an...
= 5. Find the path delay D of the logic chain shown below. Assume Cout 15C, and the numbers on the gate indicates the input capacitance Cin- In 5C 5C (2-points) 3C 4C 5C 4C Out Cout
Oasis Co., a U.S. shareholder, owns 100% of Shack Co. and 100% of Studio Co., both CFCs. Shack Co. has $300,000 of gross income, of which $50,000 is effectively connected income, and $30,000 is...
Stock price is $100 right now and can increase to $120 or drop to $80 at expiration binomial model. risk free rate is 0. What is a fair of a call with a $110 strike?
Given user input, generate a pattern matching game of the appropriate pattern and difficulty Choose Level of toughness: 1. very Easy (add 3 each time) 2. Medium (multiply 7 each time) 3. very Hard...
The amount of inventory recognized by companies might change because Select answer from the options below the inventory is transferred to a different division. of inflation. the business model might...
If the demand function for a product is given by p=4400/q+3 ; find the elasticity for this demandfunction when p = $220. Round your answer off to 2 decimal places. Elasticity = E =
________________________ is the amount by which the proposed investment will increase the value of the firm if the project is adopted
14-17 While the chapter focused largely on the FASB's standard setting activities, which other organization(s) also periodically revise and update its(their) standards? The IASB The AICPA The PCAOB...
The water level in a tank is 20 m above the ground, A hose is connected to the bottom of the tank, and the nozzle (2 cm diameter) at the end of the hose is pointed straight up, as shown in Figure 4....
For the following arrangements, discuss whether they are 'in substance' lease transactions, and thus fall under the ambit of IAS 17.
Using a discount store or supermarket. What type of forecasting model would they use to plan for expansion into a particular city? What internal data and external data would they require to develop a...
Perform a horizontal analysis for the MLC income statement (Table 4-7) for 2011 and 2012. Write an explanation of this analysis.
Samantha Knight is applying for a small-business loan. She provides the bank with the following information: cash in checking accounts, $5,000; cash in savings, $10,350; home market value, $145,500;...
Example In January 2004, a Mars Exploration Rover touched down on the surface of Mars and rolled out for exploration ( Figure
A battery-operated wall clock no longer keeps timeneither hand moves. Develop a hypothesis explaining why it fails to work, and then make a prediction that permits you to test your hypothesis....
Does the snowflake have rotational symmetry in Figure 1.6? If yes, describe the ways in which the flake can be rotated without changing its appearance. Does it have reflection symmetry? If yes,...

During July 2017, Bridgeport Enterprises recorded the following: Sales of $86,400 ($64,500 on account, $21,900 for cash)

Question:

Expert Answer:

Heres how to journalize Bridgeport Enterprises transactions during July 2017 Sales on account Debit ... View the full answer

Entrepreneurial Finance

Students also viewed these accounting questions