Suppose Bouillion, Inc., reported net receivables of $2,585 million and $2,269 million at January 31, 2019,...
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Suppose Bouillion, Inc., reported net receivables of $2,585 million and $2,269 million at January 31, 2019, and 2018, respectively, after subtracting allowances of $65 million and $59 million at these respective dates. Boullion earned total revenue of $90,000 million (all on account) and recorded uncollectible-account pense of $27 million for the year ended January 31, 2019. Read the requirement. Allowance for Uncollectible Accounts Write-offs Beg Bal 59 Expense 27 End Bal 65 The write-offs of uncollectible receivables for the year ended January 31, 2019 is $ 21 million. Requirement 1b. Use this information to measure the collections from customers for the year ended January 31, 2019. Post the known transactions to the Accounts Receivable to solve for the collections from customers amount. (Enter amounts in millions of dollars as provided to you in the problem statement.) Accounts Receivable Suppose Bouillion, Inc., reported net receivables of $2,585 million and $2,269 million at January 31, 2019, and 2018, respectively, after subtracting allowances of $65 million and $59 million at these respective dates. Boullion earned total revenue of $90,000 million (all on account) and recorded uncollectible-account pense of $27 million for the year ended January 31, 2019. Read the requirement. Allowance for Uncollectible Accounts Write-offs Beg Bal 59 Expense 27 End Bal 65 The write-offs of uncollectible receivables for the year ended January 31, 2019 is $ 21 million. Requirement 1b. Use this information to measure the collections from customers for the year ended January 31, 2019. Post the known transactions to the Accounts Receivable to solve for the collections from customers amount. (Enter amounts in millions of dollars as provided to you in the problem statement.) Accounts Receivable
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Related Book For
Financial accounting
ISBN: 978-0136108863
8th Edition
Authors: Walter T. Harrison, Charles T. Horngren, William Bill Thomas
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