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please help!!!! Barga Company's net sales for Year 1 and Year 2 are $670,000 and $742,000, respectively. Its year-end balances of accounts recelvable follow: Year
please help!!!!
Barga Company's net sales for Year 1 and Year 2 are $670,000 and $742,000, respectively. Its year-end balances of accounts recelvable follow: Year 1, $56,000; and Year 2,$96,000. a. Complete the below table to calculate the days' sales uncollected at the end of each year. b. Did days' sales uncollected improve or worsen in Year 2 versus Year 1 ? Complete this question by entering your answers in the tabs below. Complete the below table to calculate the days' sales uncoliected at the end of each year. (Do not round intermediate caiculations. Ro Sales Uncollected" answers to 1 decimal place.) Waupaca Company establishes a $390 petty cash fund on September 9 . On September 30 , the fund shows $159 in cash along with receipts for the following expenditures: transportation-in, \$51; postage expenses, $57; and miscellaneous expenses, $111. The petty cashier could not account for a $12 shortage in the fund. The company uses the perpetual system in accounting for merchandise inventory. Prepare (1) the September 9 entry to estabilsh the fund, (2) the September 30 entry to reimburse the fund, and (3) an October 1 entry to increase the fund to $450. Journal entry worksheet Prepare the journal entry to establish the petty cash fund. Hote: Inter debits before credits EcoMart establishes a $2,050 petty cash fund on May 2. On May 30, the fund shows $868 in cash along with receipts for the following expenditures: transportation-in, \$160; postage expenses, $589; and miscellaneous expenses, $440. The petty cashier could not account for a $7 overage in the fund. The company uses the perpetual system in accounting for merchandise inventory. Prepare the (1) May 2 entry to establish the fund, (2) May 30 entry to reimburse the fund [Hint Credit Cash Over and Short for $7 and credit Cash for $1,182 ], and (3) June 1 entry to increase the fund to $2,400. Journal entry worksheet 3 Record the May 2 entry to establish the fund. Notes Enteridebits before credits Step by Step Solution
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