User Account

All Pages

Prepare the journal entry that pinkston textiles makes

Assignment Help Accounting Basics
Reference no: EM131144214

1. Pinkston Textiles decides to sell $600,000 of its accounts receivable to First Factors Inc. First Factors assesses a service charge of 3% of the amount of receivables sold. Prepare the journal entry that Pinkston Textiles makes to record this sale. 

Reference no: EM131144214

Questions Cloud

Create powerpoint presentation with speaker notes : Create a 20- to 25- slide Microsoft® PowerPoint® presentation with speaker notes.- Give an overview and history of quality in the company your team chose.
Explain a matrix that identifies specific departmental needs : Develop a matrix that identifies specific departmental needs for a company that you are familiar with.
How the budgets for each of these costs contribute : Discuss how the budgets for each of these costs contribute to the company's success. - Which do you think plays the greatest role and why?
Compare the advantages of a note receivable : Your roommate is uncertain about the advantages of a promissory note. Compare the advantages of a note receivable with those of an account receivable.
Prepare the journal entry that pinkston textiles makes : Prepare the journal entry that Pinkston Textiles makes to record this sale.
Create project model for existing acme medical center wan : Create a new project model using Visio for the existing Acme Medical Center WAN. Name your new model "Team X" and replace the X with your team identifier. Begin creating your model by creating an empty scenario.
How would the healthcare employees interact with you : Discuss your thoughts on how healthcare organizations and clinicians can go about engaging patients in the healthcare process. How does HIT play a role in this process?
Why are companies selling their receivables : An article recently appeared in the Wall Street Journal indicating that companies are selling their receivables at a record rate. Why are companies selling their receivables?
Find the slope of the line perpendicular to the line y : ALGEBRA QUESTIONS 1. Write 230,000,000,000 in scientific notation.2. Evaluate: 30 - 12÷3×2 =3. Evaluate: |4 - 8(3 - 12)| - |5 - 11| =

Reviews

Write a Review

Accounting Basics Questions & Answers

  Financial status of the company

You have been hired as a consultant by the Board of Directors of Landry's Restaurants, Inc. to evaluate the financial status of the company.

  Wheeler corporation produces and sells special eyeglass

wheeler corporation produces and sells special eyeglass straps for sporting enthusiasts. in 2009 the company budgeted

  Calculate the amount of total liabilities that abc company

abc company began operations on august 1 2013 and entered into the following transactions during 20131. on august 1 abc

  Suppose the face value of the note equals

Sylvestor Systems borrows $ 110,000 cash on May 15, 2013, by signing a 60 day, 12% note.

  In 2010 the bowwow company purchased 18426 units from its

in 2010 the bowwow company purchased 18426 units from its supplier at a cost of 11 per unit. bowwow sold 15136 units of

  When would we use present value calculations when would we

a. when would we use present value calculations? when would we use future value calculations? which is more likely to

  Reduce the remaining two years'' interest payments

Clayton was experiencing severe financial difficulties and asked Third BancCorp to modify the terms of the debt agreement. After negotiation Third BancCorp agreed to:

  What are three goals of inventory management

What are three goals of inventory management?

  Complete the contribution format income statement at

lucky products markets two computer games predator and runway. a contribution format income statement for a recent

  What is the total cash paid to the preferred stockholders

Assume that Corporation X has 20,000 shares of $10 par value cumulative 6% preferred stock and 5,000 shares of common stock outstanding. No dividends were paid in 2009 and 2010. In 2011, the board of directors declares dividends of $50,000. What i..

  Briefly explain the concept behind inventory turnover and

briefly explain the concept behind inventory turnover and how management uses it to measure their performance in

  Compute accounting rate of return on investment

Mahtomedi Corporation is considering investing in specialized equipment costing $240,000. The equipment has a useful life of five years and a residual value of $20,000. Depreciation is calculated using the straight line method. The expected net ca..

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!

Submit Assignment

Academics

Major Subjects

Majors

Get In Touch

whatsapp: +1-415-670-9521

Phone: +1-415-670-9521

Email: [email protected]

TERMS & POLICIES

HELP & SUPPORT

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