1. Depreciation on the equipment for the month of January is calculated using the straight-line method. At...
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2. At the end of January, $23,000 of accounts receivable are past due, and the company estimates that 30% of these accounts will not be collected. Of the remaining accounts receivable, the company estimates that 3% will not be collected.
3. Accrued interest expense on notes payable for January.
4. Accrued income taxes at the end of January are $14,200.
5. By the end of January, $4,200 of the gift cards sold on January 2 have been redeemed
3. Prepare an adjusted trial balance as of January 31, 2018
Accounts Receivable
Accounts receivables are debts owed to your company, usually from sales on credit. Accounts receivable is business asset, the sum of the money owed to you by customers who haven’t paid.The standard procedure in business-to-business sales is that...
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Financial Accounting
ISBN: 978-1259914898
5th edition
Authors: David Spiceland, Wayne M. Thomas, Don Herrmann
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