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On October 31, Rosebud, Inc., had a $150,000 debit balance in Accounts receivable. During November, Rosebud, Inc., had the following transactions: Read the requicements expense
On October 31, Rosebud, Inc., had a $150,000 debit balance in Accounts receivable. During November, Rosebud, Inc., had the following transactions:
Read the requicements expense Begin by preparing the poumal entries (Recors debit fint, then cudts. Exduse explanutions tiom any fournal entries) Start by joumalush the ertry to record sales of 5510,000 , al on crede Cofections on accourt $525,000 Whatiofs of rocolectole reevibles 54000 , whing the allwance method Wrile-offs of uncollectible recelvatles, $4,000, ushg the allowance method C (Click the icon to vow the transactions ) Read the revaiement Saled the appoprate descreteon as a pouting reference fsceach artourt entered into the Taccount Start by joumaking the onty to record sules of 5510,000 , ak on code Begin by preparing the joumal ectries (Record debits first, then credits. Exdude explanations from amy joumal ensies) Wibe- offs of uncoloctible roceivables, 54,000, using the drect write-of method. appopriste description as a posthing teference for each amount entend into the T-aceourts. Which ambunt better matchas expenses weh reverue? Give your teason Bad debt expense under the better matches experage with rovenue because the expense he reconded Ptequiremeat 4. What amount of oet accounts recelvable would Rosebud, lnc. repert on its November Jo balance sheet under each of the two mathods? (Complete al antwer beins it an acrount zero balance enter a a 0) Which amount is more realitic? Give your temon. Net accounte richivable under the is more realistic becache at howi twe ameunt or the receivaths that the campany Read the requicements expense Begin by preparing the poumal entries (Recors debit fint, then cudts. Exduse explanutions tiom any fournal entries) Start by joumalush the ertry to record sales of 5510,000 , al on crede Cofections on accourt $525,000 Whatiofs of rocolectole reevibles 54000 , whing the allwance method Wrile-offs of uncollectible recelvatles, $4,000, ushg the allowance method C (Click the icon to vow the transactions ) Read the revaiement Saled the appoprate descreteon as a pouting reference fsceach artourt entered into the Taccount Start by joumaking the onty to record sules of 5510,000 , ak on code Begin by preparing the joumal ectries (Record debits first, then credits. Exdude explanations from amy joumal ensies) Wibe- offs of uncoloctible roceivables, 54,000, using the drect write-of method. appopriste description as a posthing teference for each amount entend into the T-aceourts. Which ambunt better matchas expenses weh reverue? Give your teason Bad debt expense under the better matches experage with rovenue because the expense he reconded Ptequiremeat 4. What amount of oet accounts recelvable would Rosebud, lnc. repert on its November Jo balance sheet under each of the two mathods? (Complete al antwer beins it an acrount zero balance enter a a 0) Which amount is more realitic? Give your temon. Net accounte richivable under the is more realistic becache at howi twe ameunt or the receivaths that the campany Step by Step Solution
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