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A company had net sales of $31,000 and ending accounts receivable of $3,200 for the current period. Its days' sales uncollected equals: (Use 365 days
A company had net sales of $31,000 and ending accounts receivable of $3,200 for the current period. Its days' sales uncollected equals: (Use 365 days a year.) Multiple Choice 37.68 days. 52.98 days. a 48.88 days. 29.68 days. A company had $46 missing from petty cash that was not accounted for by petty cash receipts. The correct procedure is to: Multiple Choice Debit Cash Over and Short for $46. Credit Cash Over and Short for $46. Debit Petty Cash for $46. Credit Petty Cash for $46. Debit Cash for $46. Childers Company, which uses a perpetual inventory system, has an established petty cash fund in the amount of $500. The fund was last reimbursed on November 30. At the end of December, the fund contained the following petty cash receipts: December 4 Freight charge for merchandise purchased December 7 Delivery charge for shipping to customer December 12 Purchase of office supplies December 18 Donation to charitable organization $55 $79 $44 $63 If, in addition to these receipts, the petty cash fund contains $249.75 of cash, the journal entry to reimburse the fund on December 31 will include: Multiple Choice A credit to Cash of $250.25. A credit to Office Supplies of $79. A credit to Cash Over and Short of $9.25. A debit to Transportation-In of $99. A debit to Petty Cash of $99
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