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pleaae help! thank you Use the following to answer questions 15 For the next few weeks, the company is offering a 20% trade discount when
pleaae help! thank you Use the following to answer questions 15 For the next few weeks, the company is offering a 20% trade discount when providing services of $10,000 or more to its customers to encourage customers to buy more services. The company also offers 2/10,n30 on all credit sales. All credit sales are invoiced at the end of the month. The company provided the following services this month; amounts are shown before trade discounts have been deducted: - Provides $12,000 services for Customer A on account - pays within 10 days - Provides $7,000 services for Customer B- on account-pays within 10 days - Provides $20,000 services for Customer C - on account-pays within 30 days - Provides $8,000 services for Customer D-received payment last month 1. $ What amount of Service revenue should the company record for Customer A? 2. $ What amount of Service revenue should the company record for Customer B? 3. $ Customer B pays within 10 days; how much will they pay? 4. $ Determine the monthly Service revenue for the company 5. $ Determine the company's Net service revenue for the month Use the following to answer questions 6-7 The company reported the following amounts at the end of the year: 6. $ Determine total contra revenues for the company 7. $ Determine net sales for the company Use the following to answer questions 8 - 11 The following information pertains to the company for the month of November: The company uses the percent of receivabies method and estimates it will not collect 9% of accounts receivable. 10. 5 Assuming the Allowance for Uncollectible accounts had a $600 debit balance instead of the previous credit balance, determine the amount to record for Bad Debt expense 11. $ After recording bad debt expense, the Net Accounts Recelvable is: Use the following to answer questions 12 - 15 At December 31 , the company reported accounts receivable of $120,000 and an allowance for uncollectible accounts of $1,000 (credit). An analysis of accounts receivable suggests that the allowance for uncollectible accounts should be 8% of accounts receivable. 12. $ Estimate the amount of uncollectible receivables: 13. $ When recording the adjustine entry for bad debt expense how much should Allowance for Uncollectible accounts be credited? 14. On January 10, a customer's account balance of $1,000 is written off as uncollectible. Record the write-off. 15. $ If Net Accounts receivable were $100,000 before the write-off, how much are Net Accounts recelvable AFTER the write-off? Use the following to answer questions 16=19 For each transaction indicate whether it should: A. increase, B. decrease, or C. no effect. Use the following to answer questions 2022 At the beginning of the year; the company's allowance for uncollectible accounts had a beginning balance of $8,000. On January 22nd, the company wrote off the A/R from customer C for $500 2 21. By the end of the year (December 313t ); total accounts written off were $7,800 (including the Write off for customer C). What is the balance in the allowance for uncollectible accounts after all the writeoffs? 22. $ How much did bad debt expense change when the company wrote off the accounts receivables? Use the following to answer questions 2325 The company invested $100,000 on August 1,20A at 9% simple interest for 2 years. 23.$ Determine interest revenue for 20A 24.$ Determine interest revenue for 20XB 25.$ Determine interest revenue for 20C Use the following to answer questions 26-27 The company invested $100,000 on April 1, 20XA at 6% simple interest for 1 year. 26. \$ Determine interest revenue for 20XA 27.$ Dotermine interest revenue for 20B Use the following to answer questions 28 - 30 The company lent $200,000 on November 1,20XA at 3% simple interest for 18 months. 28. $ Determine interest revenue for 20A 29.$ Determine interest revenue for 20XB 30.$ Determine interest revenue for 20C
pleaae help!
thank you
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