Answered

Find the best solutions to your questions at Westonci.ca, the premier Q&A platform with a community of knowledgeable experts. Discover in-depth solutions to your questions from a wide range of experts on our user-friendly Q&A platform. Get immediate and reliable solutions to your questions from a community of experienced professionals on our platform.

Harvest Company has the following December 31 General Ledger Account Balances after adjustments relating to Sales and Receivables:

Sales $31,500 (of which 40% are credit sales still outstanding)
Sales returns and Allowances $1,000
Miscellaneous Receivables $1,212
Allowance for Doubtful Accounts $1,502
Long term Receivables $9,014
Advances to Shareholders and Directors $4,398
Notes Receivables $2,903 (Current Portion)
Bad Debt Expense is estimated as 4% of credit sales

Required 2: Assuming no other transaction happened, what is the adjusted net balance of all current Receivables at December 31st? $

Required 3: Assuming no other transaction happened, what is the adjusted net balance of Accounts Receivables at December 31st? $

Sagot :

We appreciate your time. Please revisit us for more reliable answers to any questions you may have. We appreciate your time. Please revisit us for more reliable answers to any questions you may have. We're dedicated to helping you find the answers you need at Westonci.ca. Don't hesitate to return for more.