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3 years ago

8

Garcia manufacturing's april sales forecast projects that 5,000 units will sell at a price of $10.50 per unit. the desired endin

g inventory is 30% higher than the beginning inventory, which was 1,000 units. budgeted purchases of units in april would be:

1 answer:

shtirl [24]3 years ago

6 0

Budgeted Purchases = Sales units + Closing inventory - Beginning Inventory
= 5,000 + (1,000 * 130%) - 1,000
= 5,300 units

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stealth61 [152]

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3 years ago

The following selected transactions were taken from the records of Shipway Company for the first year of its operations ending D

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Answer:

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Debit Allowance for doubtful accounts $6,530

Credit Accounts receivable $6,530

<em>(To record write-off of accounts receivable - Dean Sheppard)</em>

May 15:

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Credit Accounts receivable $3,270

<em>(To record collection on account - Dan Pyle)</em>

Debit Allowance for doubtful accounts $5,410

Credit Accounts receivable $5,410

<em>(To record write-off of accounts receivable - Dan Pyle)</em>

July 27:

Debit Accounts receivable $6,530

Credit Allowance for doubtful accounts $6,530

<em>(To re-establish accounts receivable from Dean Sheppard)</em>

Debit Cash $6,530

Credit Accounts receivable $6,530

<em>(To record collection on account - Dean Sheppard)</em>

December 31:

Debit Allowance for doubtful accounts $13,330

Credit Accounts receivable $13,330

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Explanation:

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When there was a receipt of $6,530 on July 27, the accounts receivable would be reinstated and then adjusted for the cash receipt.
Lastly, the write-off of the uncollectible accounts from miscellaneous customers were added up to arrive at $13,330.

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3 years ago