At the start of 20X1, Vader has a $140,500 balance in its accounts receivable. Jan 5,...

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At the start of 20X1, Vader has a $140,500 balance in its accounts receivable. Jan 5, Vader Co sold 35,000 widgets to BeBe, Co. for $100 each, terms 2/10, n/30. Record that sale: Account Title and Description Debit Credit Jan 7, Beße Co returned 1,000 widgets. Record that return: Account Title and Description Jan 12, BeBe Co. paid. Record that payment: Jan 8, BeBe Co complained about having to return some items, so Vader granted an allowance of returned $5,000. Record that allowance: Account Title and Description Account Title and Description. Debit What is Vader's Net Sales Revenue for January? What is Vader's Gross Sales Revenue for January? What is Vader's balance in Accounts Receivable on January 31? Debit Debit Credit Debit Credit Jan 20, Vader received $85,500 from customers on account (no discounts applicable). Record that payment: Account Title and Description Credit Credit At the start of 20X1, Vader has a $140,500 balance in its accounts receivable. Jan 5, Vader Co sold 35,000 widgets to BeBe, Co. for $100 each, terms 2/10, n/30. Record that sale: Account Title and Description Debit Credit Jan 7, Beße Co returned 1,000 widgets. Record that return: Account Title and Description Jan 12, BeBe Co. paid. Record that payment: Jan 8, BeBe Co complained about having to return some items, so Vader granted an allowance of returned $5,000. Record that allowance: Account Title and Description Account Title and Description. Debit What is Vader's Net Sales Revenue for January? What is Vader's Gross Sales Revenue for January? What is Vader's balance in Accounts Receivable on January 31? Debit Debit Credit Debit Credit Jan 20, Vader received $85,500 from customers on account (no discounts applicable). Record that payment: Account Title and Description Credit Credit

Answer rating: 100% (QA)

Lets start by passing the journal entries for each of the transactions in January and then well calc... View the full answer