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Please help me with these questions. Getting them wrong #9 The following data exist for Conner Company: Calculate the following for 2010. Round your answers
Please help me with these questions. Getting them wrong
#9 The following data exist for Conner Company: Calculate the following for 2010. Round your answers to one decimal place. Receivable turnover times Average days' sales uncollected days #15 Use this information to answer the following question. The general ledger account for Accounts Receivable shows a debit balance of $50,000. Allowance for Uncollectible Accounts has a credit balance of $1,000. Net sales for the year were $500,000. In the past, 2 percent of sales have proved uncollectible, and an aging of accounts receivable accounts results in an estimate of $13,500 of uncollectible accounts. Using the percentage of net sales method, Uncollectible Accounts Expense would be debited for a. $11,000. b. $9,000. c. $10,000. d. $1,000. #19 A company receives $200, of which $8 is for sales tax and $12 is for excise tax. The journal entry to record the sale is: a. Excise Tax Expense 12 Sales Tax Expense 8 Cash 180 Sales b. Sales 200 200 Cash 200 c. Cash 200 Sales Tax Payable 8 Excise Tax Payable 12 Sales 180 d. Cash Sales 180 180Step by Step Solution
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