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kozerog [31]
3 years ago
10

During 2019, its second year in operation, Sanborn Company delivered goods to customers equal to $6,250,000. The amount of cash

collected from customers was $6,360,000. The amount of accounts receivable at the beginning of 2019 was $1,200,000. Based on this information, what is the amount of accounts receivable that Sanborn should report at the end of 2019
Business
1 answer:
Alex Ar [27]3 years ago
6 0

Answer:

Accounts receivable to be reported at the end of 2019 = $1090000

Explanation:

Assuming that all sales are made on credit.

The opening accounts receivable were = $ 1200000

We add the credit sales made during the year to the opening balance of accounts receivable to reach at total accounts receivable.

Total accounts receivable = 1200000 + 6250000 = 7450000

We deduct the amount received from customers against these sales to reach at the closing balance for accounts receivables.

Closing balance Accounts receivables 2019 = 7450000 - 6360000 = $1090000

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valina [46]

Answer:

16,000

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For Foxcatle, the marginally attached will be the discouraged workers. They are not in the labor force; hence they are not considered as employed or unemployed.

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3 years ago
Paul Springer plans to save for a down payment for a house in 10 years. He will be able to invest $12,000 today in a money marke
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Answer:

The correct answer is $20,772.92.

Explanation:

According to the scenario, the given data are as follows:

Payment (pmt) = $12,000

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Hence, the future value at the end of 10 years will be $20,772.92.

8 0
3 years ago
Bonds are considered to offer a guaranteed return, as they must be honored by law, but which is still a potential risk that inve
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The potential risk that the investors may face when this is made use is that the issuer may not be able to make profit when the bonds are considered to offer as a guaranteed return because they are honored by law and with that, this will cause the value of the bond to be lowered when exposed in the market in which the return will also be lower when return to the investors. 
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4 years ago
Read 2 more answers
Colorado Corporation has two classes of​ stock: common, ​$3 par​ value; and​ preferred, ​$30 par value.Requirements1.Journalize
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Answer:

1)

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Credit  Common Stock 13,500  (4,500 shares x $3 per share)

Credit  Paid-In Capital in Excess of Stated Value—Common 13,500  (4,500 shares x $3 per share)

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Explanation:

any issuing price of stock above par value will be credited in "Paid-In Capital in Excess of Stated Value—Common"

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3 years ago
Bertone's Office Supplies has large stores resembling warehouse environments, with racks stocked from floor to ceiling with diff
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