Cash collections from clients at some point of the duration =beginning money owed receivable +internet credit income-ending accounts receivable = 1128000
= 125000+1216000-213000
= 1128000
Surely put, cash collection is the process of accumulating debts owed in your organization. these may be bills owed with the aid of a character or another business and might consist of each cutting-edge bill with an awesome balance and beyond-due money owed. you may additionally hear this referred to as payment collections.
Cash collection additionally referred to as charge collection, is a treasury characteristic that describes the method whereby an enterprise recovers coins from different groups (or individuals) to whom it has previously issued an invoice. the important thing objective of the coins series is to get invoices paid on their due date.
Cash collections typically come from one in every of two locations: coins income and collections on bills receivable. Use historical information and trends to estimate collections for every class and calculate the sum of the figures to locate general budgeted cash collections.
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Your answer is 2730!!!!!!
Answer:
The journal entry that Teal would make to record payment of this note would include a credit to: c) Interest revenue for $200
Explanation:
On March 14, Teal Co. accepted a 120 days, 6% note in the amount of $10,000 from AZC Co.
The entry:
Debit Note receivable $10,000
Credit Accounts receivable $10,000
Assuming that a year of calculating interest has 360 days. On the due date of the note, AZC honors the note and pays in full, include the interest of 120 days:
$10,000 x 6% x 120/360 = $200
The entry that Teal would make:
Debit Cash $10,200
Credit Note receivable $10,000
Credit Interest revenue $200
I would say C: vocabulary. I don't have any other form of context so take my answer with a grain of salt, but that seems the most likely to me.
