How should black diamond recognize on january

Assignment Help Financial Accounting
Reference no: EM132707863

On January? 1, 2019?, Black Diamond Company agreed to sell a diamond to a customer at a special price of $9,000. Payment terms were $1,800 on January? 1, 2019?, and $1,800 each January 1 from 2020 to 2023. Black Diamond normally charges 10% interest to its customers but did not charge interest on this special sale.

Required

Problem 1: How much? revenue, and how much accounts? receivable, should Black Diamond recognize on January? 1, 2019?? ?(Use a financial calculator and enter your answers as positive? amounts, rounded to the nearest whole? dollar.)

Reference no: EM132707863

Questions Cloud

How do record journal entries relating to note receivable : The market interest rate for the loan.Record the journal entries relating to the note receivable from the date of issuance to the restructuring? date, inclusive
Personal genetic predisposition to developing cancer : What is your personal genetic predisposition to developing cancer? Determine if you are at high or low risk.
Prepare the journal entries to record the transaction listed : Received balance due on preferred stock subscribed and issued the certificate. Prepare the journal entries to record the transaction listed
Perform a single three-point cross : Consider three genes B, P, and T. You want to measure the map distances between all of these genes. Which of the following approaches
How should black diamond recognize on january : Find How much? revenue, and how much accounts? receivable, should Black Diamond recognize on January? 1, 2019?? ?(Use a financial calculator)
Find the optimal purchasing policy for the hospital : The demand for the drug in the health unit is 50,000 units a year. Find the optimal purchasing policy for the hospital
Differentiating cochlear from retrocochlear disorders : Why would immittance audiometry be useful in differentiating cochlear from retrocochlear disorders?
Find what is the average unit cost for coronado industries : Find What is the average unit cost? In its first month of operations, Coronado Industries made three purchases of merchandise in the sequence.
Describe the three steps in urine formation : Describe the three steps in urine formation. Include a description of the molecules involved during each step, as well as the process involved

Reviews

Write a Review

Financial Accounting Questions & Answers

  Discuss risk factors companies consider with acquisitions

Explain how companies measure the level of risk related to a given investment decision. Discuss risk factors companies should consider with acquisitions.

  How does the price of the bond change

What is a fair price for this bond? Alternatively, assume that the first payment is expected immediately. How does the price of this bond change?

  What is cost of goods available for sale

Cinnamon Buns Co. (CBC) started 2016 with $52,800 of merchandise on hand. During 2016, $293,000 in merchandise was purchased on account with credit terms of 4/10 n/30. All discounts were taken. Purchases were all made f.o.b. shipping point. CBC uses ..

  Product costs using activity rates

Elegant Occasions Inc. sells china and flatware over the Internet. For the next period, the budgeted cost of the sales order processing activity is $115,500 and 5,250 sales orders are estimated to be processed. Determine the activity rate of the sale..

  Keep track of the computers produced in row 21

Use Solver Table to run a sensitivity analysis on the cost per assembling labor hour, letting it vary from $5 to $20 in increments of $1.

  Benefits of employing such system in the economy

Because of a new product line, your company's sales over the last few months have increased significantly. As a result, the amount of cash held by the company has increased to levels never experienced before. An evaluation by the company's financial ..

  Determine the monthly payment on a year level payment

Determine the monthly payment on a 30-year level payment mortgage assuming an annual mortgage rate of 5% and an initial mortgage principal of $400,000.

  Calculate margin and net income and return on equity

For the year ended December 31, 2013, Ebanks, Inc., earned an ROI of 12%. Sales for the year were $150 million, and average asset turnover was 2.5. Average stockholders’ equity was $50 million. Calculate E banks, Inc.’s return on equity. Calculate E ..

  Identify qualitative characteristic or accounting convention

Identify the qualitative characteristic or accounting convention that applies, state whether or not the treatment is in accord with the accounting concept and generally accepted accounting principles, and briefly explain why.

  Calculate annual depreciation for the first and second years

Conlin Company acquires a delivery truck at a cost of $42,000. The truck is expected to have a salvage value of $6,000 at the end of its 4-year useful life. the straight-line method. Calculate annual depreciation for the first and second years usin..

  Prepare a quarterly budget for 2021

Taking the unmovable product mix provided above compute total annual sales that the company must generate to break even

  Calculate the bad debts under the current policy

Calculate the bad debts under the current policy. Lucid Ltd is a competitive golf pro shop in the Hype Park area. They sell golf clubs

Free Assignment Quote

Assured A++ Grade

Get guaranteed satisfaction & time on delivery in every assignment order you paid with us! We ensure premium quality solution document along with free turntin report!

All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd