Question
On January 1, 2014, Alter Company had Accounts Receivable $154,000; Notes Receivable of $12,000; and Allowance for Doubtful Accounts of $13,200. The note receivable is
On January 1, 2014, Alter Company had Accounts Receivable $154,000; Notes Receivable of $12,000; and Allowance for Doubtful Accounts of $13,200.
The note receivable is from Hartwig Company. It is a 4-month, 9% note dated December 31, 2013. Alter Company prepares financial statements annually. During the year, the following selected transactions occurred.
Show your work.
Jan. 5 Sold $10,000 of merchandise to Flynn Company, terms n/15.
20 Accepted Flynn Company
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Implementing And Auditing The Internal Control System
Authors: D. Chorafas
2001edition
0333929365, 978-0333929360
