Question
33- On January 1, Five Star Services has the following balances: Accounts Receivable $24,000 (debit) Bad Debts Expense $0 Five Star Services has the following
33-
On January 1, Five Star Services has the following balances:
Accounts Receivable | $24,000 (debit) |
Bad Debts Expense | $0 |
Five Star Services has the following transactions during January: Credit sales of $120,000, collections of credit sales of $86,000, and write-offs of $20,000. Five Star Services uses the direct write-off method. At the end of January, the balance of Accounts Receivable is ________.
A.$14,333
B.$38,000
C.$27,907
D.$58,000
34
The following information is needed to reconcile the cash balance for Gourmet Catering Services.
* A deposit of $5,600 is in transit.
* Outstanding checks total $1,000.
* The book balance is $6,400 at February 28, 2019.
* The bookkeeper recorded a $1,800 check as $17,200 in payment of the current month's rent.
* The bank balance at February 28, 2019 was $17,410.
* A deposit of $400 was credited by the bank for $4,000.
* A customer's check for $3,300 was returned for nonsufficient funds.
* The bank service charge is $90.
What was the adjusted book balance?
A.$18,500
B.$18,410
C.$17,500
D$18,590
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