Scribd
Upload
31 views4 pages

Ia1 Chapter 4 MCQ Problems

Uploaded by

423003645
Copyright
© © All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
Available Formats
Download as XLSX, PDF, TXT or read online on Scribd
31 views4 pages

Ia1 Chapter 4 MCQ Problems

Uploaded by

423003645
Copyright
© © All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
Available Formats
Download as XLSX, PDF, TXT or read online on Scribd
You are on page 1/ 4

Accounts Receivable

1 Beg 565,000.00 4,170,000.00 Cash rec. fr. Credit sales


Credit Sales 4,300,000.00 35,000.00 Sales Disc.
36,000.00 Sales Return
20,000.00 Write-off
604,000.00 End (Squeeze)
4,865,000.00 4,865,000.00

2 0-5 days 2,600,000.00


6-10 days 1,700,000.00
11-15 days 1,500,000.00
5,800,000.00 Eligible Outstanding Account
75%
4,350,000.00 Will pay within the disc. Period
3%
130,500.00 Allowance for Sales Disc.

Accounts Receivable
3 Beg (Squeeze) 1,026,000.00 3,500,000.00 *Cash rec. fr. Credit sales
Credit Sales 4,000,000.00 1,526,000.00 End
5,026,000.00 5,026,000.00

* Gross Sales (Based on the credit sales rate)


Credit Sales
Cash Sales

Cash Received (Total)


Cash Received from Cash Sales
Cash Received from Credit Sales

Accounts Receivable
4 Beg (Squeeze) 452,000.00 2,090,000.00 Cash rec. fr. Credit sales
Credit Sales 2,490,000.00 110,000.00 Notes received
Recoveries 9,000.00 60,000.00 Sales Return
6,000.00 Sales Discount
30,000.00 Write-off
9,000.00 Recoveries
646,000.00 End
2,951,000.00 2,951,000.00

Accounts Receivable
5 Beg 375,000.00 1,926,600.00 *Cash rec. fr. Credit sales
*Credit Sales 2,080,000.00 23,400.00 * Sales Discount
505,000.00 End (Squeeze)
2,455,000.00 2,455,000.00

* Gross Sales
Cash Sales (20% of Total Sales)
Credit Sales

Accounts Collected
A/R Subj. for Cash Discount (1,950,000.00*40%)
Cash Discount Rate
Cash Discount
Cash Received from Credit Sales

6 Customer Balance
MIGUEL Company 500,000.00
LILIANA Company 200,000.00
ISABEL Company 450,000.00
1,150,000.00
c. fr. Credit sales

ec. fr. Credit sales

5,000,000.00
4,000,000.00
1,000,000.00

4,500,000.00
1,000,000.00
3,500,000.00

c. fr. Credit sales

ec. fr. Credit sales


2,600,000.00
520,000.00
2,080,000.00

1,950,000.00
780,000.00
3%
23,400.00
1,926,600.00

You might also like

pFad - Phonifier reborn

Pfad - The Proxy pFad of © 2024 Garber Painting. All rights reserved.

Note: This service is not intended for secure transactions such as banking, social media, email, or purchasing. Use at your own risk. We assume no liability whatsoever for broken pages.


Alternative Proxies:

Alternative Proxy

pFad Proxy

pFad v3 Proxy

pFad v4 Proxy