Answer: $13,050
Explanation:
The Cash collected from receivables can be calculated by;
= Beginning Accounts Receivable + Sales revenue - Receivables written off - Ending Accounts Receivable
= 2,800 + 14,000 - 150 - 3,600
= $13,050
Amiga should be amigo if it is Spanish
Answer:
Date Account titles & Explanation Debit Credit
Apr-05 Merchandise Inventory $23,000
Accounts Payable $23,000
Apr-06 Merchandise Inventory $900
Cash $900
Apr-07 Equipment $26,000
Accounts Payable $26,000
Apr-08 Accounts Payable $3,000
Merchandise Inventory $3,000
Apr-15 Accounts Payable $20,000
($23,000-$20,000)
Merchandise Inventory $400
($20,000*2%)
Cash $19.600
Answer:
The answer is option (A) Dr 4,800
Explanation:
Solution
From the given question, the prepaid insurance normally is having a debit balance.
When it is brought forward to next year, this GH₵ 2,400 has to be cancelled once by debiting to suspense account.
Also. it want 2400 to credit the balance in prepaid insurance ledger, it need or require to be credited and debited to suspense account with 2400 balance.
Now, this combined debit to suspense account will result to 4800 (2400 +2400).
Answer:
D. Debit to Accounts Receivable
Explanation:
Transaction of sale in Perpetual Inventory system will be recorded as follow:
Dr. Cr.
Account Receivable xxx
Sales xxx
Cost of Goods Sold xxx
Merchandise Inventory xxx
There is no entry to purchases, cost of goods sold is debited and inventory is credited. So, the only correct option which is dealt in above transactions.
