Question
Perform the following exercises in which you must analyze the methods to evaluate accounts receivable, perform notes receivable exercises and define the different types of
Perform the following exercises in which you must analyze the methods to evaluate accounts receivable, perform notes receivable exercises and define the different types of accounts receivable: Define and explain short-term and long-term accounts receivable. Equipos y Más a is an electronic equipment company and had several notes receivable. Journalizes the entries of the following accounts receivable:
Date | Transaction |
10 of February | A note payable for $ 150,000 was received with a 4% term and 60 days to pay. |
12 of march | A note payable for $ 185,000 was received with a 6% term and 120 days to pay. |
3 of April | Received $ 150,984 of the February 10 note payable. |
16 of may | A note payable of $ 125,000 was received with a 5% term and 40 days to pay. |
2 of June | $ 188,640.80 was received from the March 12 note payable. |
11 of October | A note payable of $ 210,000 was received with a term of 8% and 90 days for payment. |
11 of November | $ 214,126.08 was received from the October 11 account payable. |
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Long term account receivable Long haul Receivables are the obligations owed to an org...Get Instant Access to Expert-Tailored Solutions
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