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please make sure this time someone answers those questions correctly. I would appreciate it. Which of the following amounts does company include with its assets
please make sure this time someone answers those questions correctly. I would appreciate it.
Which of the following amounts does company include with its assets on a balance sheet? O Gross accounts receivable-the amount contractually owed by customers Net accounts receivable-gross accounts receivable less estimated sales returns O Net accounts receivable-gross accounts receivable less estimated nonpayments O Net accounts receivable-gross accounts receivable less estimated returns and nonpayments Question 5 2.5 pts Zamunda Corp. began operations in January 2020. During the first quarter, Zamunda had $200,000 in sales to customers, all on account. By the end of the first quarter, Zamunda had already collected $50,000 from customers, with the remaining $150,000 still outstanding. Zamunda estimates that it will be able to collect $140,000 of the $150,000 in outstanding accounts receivable. What amount will Zamunda report for Accounts Receivable on its first-quarter balance sheet? (just enter the number, without any commas or a dollar sign) During 2020, Florin Corp. collected $5,000 from a customer who had purchased a product on account during the prior year. How will this $5,000 collection affect Florin's 2020 financial statements? O increase cash, increase accounts receivable O increase cash, decrease accounts receivable o increase cash, increase accounts payable O increase cash, decrease accounts payable O increase cash, increase sales revenue O increase cash, decrease sales revenueStep by Step Solution
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