Which of the following answers correctly states

Assignment Help Accounting Basics

Reference no: EM131018333

On December 31, 2014, the Landon Corporation estimated that 3% of its credit sales of $215,000 would be uncollectible. Landon used the allowance method of accounting for uncollectible accounts. On February 15, 2015, Landon wrote off the account of one of its customers, in the amount of $2,500. On April 7, 2015, the customer paid the account in full. Which of the following answers correctly states the effect of recording the collection of the reinstated receivable on April 7, 2015?

Reference no: EM131018333

Questions Cloud

Identify key strengths weaknesses and threats for company : Identify key strengths, opportunities, weaknesses and threats for the company. Highlight the most salient external trends, threats, observations, implications, conclusions, impacting issues, etc.

Did any of these authors have followed historical methods : How do these histories of non-westren women contribute to non-westten historiograph?

Florida marine life and how it is threatened or endangered : PowerPoint Presentation and accompanying five minute speaking presentation on Florida marine life and how it is threatened or endangered.

Describe the impact of the act on the colonies : Identify major actions by the colonies in reaction to your selected act.

Which of the following answers correctly states : Which of the following answers correctly states the effect of recording the collection of the reinstated receivable on April 7, 2015?

The process of natural selection and ultimately evolution : What role does natural variation play in the process of natural selection and ultimately evolution

What is the dominant strategy for quality products : If Perfection Performed and Quality Products cooperate with one another, which choice of strategy for each firm will result in the greatest joint profits? What is the dominant strategy for Quality Products

How many amino acids were coded for the mrna : How many amino acids were coded for the mRNA? How many amino acids were present in the final protein chain created in translation? In detail, explain the differences in the two numbers; why were some amino acids coded for by the mRNA but not presen..

Which of the following answers correctly describes : The Ruiz Corporation, which owns a chain of specialty shops, has recently begun to accept credit cards.

User Account

All Pages