User Account

All Pages

What amount would the company report as net accounts

Assignment Help Accounting Basics
Reference no: EM133152254

Question - On Dec. 31, 2020 redeem company had adjusted balances of $950,000 in accounts receivable and $85,000 in allowance for doubtful accounts. On January 2, 2021  Redeem co. learns that certain customer accounts are not collectible, so management authorizes a write off of these accounts totaling $25,000.

A. What amount would the company report as its net accounts receivable on Dec. 31, 2020?

B. Prepare journal entry to write off accounts on Jan 2, 2021. Record the $25,000 write off customer ACC that are not collectible.

C. Assuming no other transactions occurred between Dec. 31 and Jan. 3, 2021 what amount would the company report as Net Accounts Receivable on Jan 3, 2021?

D. Has net accounts receivable changed from Dec. 31, 2020?

Reference no: EM133152254

Questions Cloud

How do web based programs like meetings imagined : How do web based programs like Meetings Imagined (MarriottBonVoy) website or other software for meetings/events in hotels, effect the meetings and events indust
Instrumental vs valence in organizational behavior : What is instrumental vs. valence in organizational behavior?
Biggest challenges facing health care administrators : The term ambulatory care is often used interchangeably with outpatient services. Define both and explain the difference. What do you think are several key chang
What are the principal features of us health policy : What are the principal features of U.S. health policy? Why do these features characterize U.S. health policy? What do you think the future of health policy will
What amount would the company report as net accounts : Assuming no other transactions occurred between Dec. 31 and Jan. 3, 2021 what amount would the company report as Net Accounts Receivable on Jan 3, 2021
Why should dow access data at the points of origin : Why should Dow access data at the points of origin, in real time? In answering, please consider two angles: Colgrove's perspective as the driver of EMI and Dow'
Managing external issues and crisis prevention plan : Explain: Managing external issues and crisis prevention plan for businesses
What the cash paid to merchandise supplies during the year : Company A is a merchandiser, Accounts payable is only used for inventory purchases. What the cash paid to merchandise supplies during the year
Hospital reimbursement methodologies-professional services : For this assignment you will look at hospital reimbursement methodologies and basic professional services (physician and advanced practice professional). Prepar

Reviews

Write a Review

Accounting Basics Questions & Answers

  How much control does fed have over this longer real rate

Hubbard argues that the Fed can control the Fed funds rate, but the interest rate that is important for the economy is a longer-term real rate of interest.   How much control does the Fed have over this longer real rate?

  Coures:- fundamental accounting principles

Coures:- Fundamental Accounting Principles: - Explain the goals and uses of special journals.

  Accounting problems

Accounting problems,  Draw a detailed timeline incorporating the dividends, calculate    the exact Payback Period  b)   the discounted Payback Period. the IRR,  the NPV, the Profitability Index.

  Theory of interest - term structure of interest rates

Term Structure of Interest Rates

  Write a report on internal controls

Write a report on Internal Controls

  Prepare the bank reconciliation for company

Prepare the bank reconciliation for company.

  Cost-benefit analysis

Create a cost-benefit analysis to evaluate the project

  Theory of interest

Theory of Interest: NPV, IRR, Nominal and Real, Amortization, Sinking Fund, TWRR, DWRR

  Liquidity and profitability

Distinguish between liquidity and profitability.

  What is the expected risk premium on the portfolio

Your Corp, Inc. has a corporate tax rate of 35%. Please calculate their after tax cost of debt expressed as a percentage. Your Corp, Inc. has several outstanding bond issues all of which require semiannual interest payments.

  Simple interest and compound interest

Simple Interest, Compound interest, discount rate, force of interest, AV, PV

  Capm and venture capital

CAPM and Venture Capital

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