Kingbird had the following transactions during March, 2025. Kingbird performed $13,100 of services for A1 Enterprises,...
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Kingbird had the following transactions during March, 2025. Kingbird performed $13,100 of services for A1 Enterprises, terms 2/10, n30. A1 Enterprises also signed a contract for $4,300 of future services on the last day of the month. Kingbird lent $990 to its company president, who promised to repay the loan on the 15th day of the next month. 1 2 3. 4. 5. Kingbird performed services for Ace Traders on 3/31. Ace Traders gave a $2.500 promissory note to Kingbird, agreeing to pay in 3 months. Other current assets totaled $64,000. Kingbird received no cash arising from the above transactions during March. Based only on the above transactions, and ignoring beginning balances, compute the accounts receivable as a percentage of the total current assets as of month-end. (Round answer to 0 decimal places, e.g. 25%.) Accounts Receivable % Kingbird had the following transactions during March, 2025. Kingbird performed $13,100 of services for A1 Enterprises, terms 2/10, n30. A1 Enterprises also signed a contract for $4,300 of future services on the last day of the month. Kingbird lent $990 to its company president, who promised to repay the loan on the 15th day of the next month. 1 2 3. 4. 5. Kingbird performed services for Ace Traders on 3/31. Ace Traders gave a $2.500 promissory note to Kingbird, agreeing to pay in 3 months. Other current assets totaled $64,000. Kingbird received no cash arising from the above transactions during March. Based only on the above transactions, and ignoring beginning balances, compute the accounts receivable as a percentage of the total current assets as of month-end. (Round answer to 0 decimal places, e.g. 25%.) Accounts Receivable %
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1 13100 services for A1 Enterprises terms 210 n30 AR 13100 2 4300 contract for future services No e... View the full answer
Related Book For
Auditing a business risk appraoch
ISBN: 978-0324375589
6th Edition
Authors: larry e. rittenberg, bradley j. schwieger, karla m. johnston
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