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please help! The following account balances come from the records of Ourso Company. During the accounting period, Ourso recorded $11,850 of sales revenue on account.
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The following account balances come from the records of Ourso Company. During the accounting period, Ourso recorded $11,850 of sales revenue on account. The company also wrote off a $154 account recelvable. Required a. Determine the amount of cash collected from recelvables. b. Determine the amount of uncollectible accounts expense recognized during the period. Complete this question by entering your answers in the tabs below. Determine the amount of cash collected from receivables. Complete this question by entering your answers in the tabs Determine the amount of uncollectible accounts expense recognized For each of the following cases determine the ending balance in the inventory account. (Hint. First, determine the total cost of inventory available for sale. Next, subtract the cost of the inventory sold to arrive at the ending balance.) Required a. Jill's Dress Shop had a beginning balance in its inventory account of $50,000. During the accounting period, Jill's purchased $105,000 of inventory, returned $7,000 of inventory, and obtained $950 of purchases discounts. Jill's incurred $1,400 of transportation-in cost and $800 of transportation-out cost. Salaries of sales personnel amounted to $41,000. Administrative expenses amounted to $45,600. Cost of goods sold amounted to $102,300. b. Ken's Bait Shop had a beginning balance in its inventory account of $12,000. During the accounting period, Ken's purchased $52,900 of inventory, obtained $1,600 of purchases allowances, and recelved $560 of purchases discounts. Sales discounts amounted to $840. Ken's incurred $1,300 of transportation-in cost and $460 of transportation-out cost. Selling and administrativ. cost amounted to $14,300. Cost of goods sold amounted to $37,900 Step by Step Solution
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