FREE Trial
Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

Please send the excel file so i can see the solutions yaay CASE 10 Aging of Accounts receivables 1 to 3 Use the following data

Please send the excel file so i can see the solutions yaay

image text in transcribed
CASE 10 Aging of Accounts receivables 1 to 3 Use the following data to determine the following: Credit Sales Credit Terms Jan - P500,000 30% within the month of invoice Feb - P275,000 30% within the month after invoice Apr - P385,000 40% within 2 months after invoice 1. How much is the total collections for the month of March only? 2. How much is the total collections for the month of May only? 3. If the company was able to collect P1,000,000 as of June end, and 2% of the balance of uncollected amounts will be deemed uncollectible, how much will be deducted from accounts receivables

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image_2

Step: 3

blur-text-image_3

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

Managerial Decision Modeling Business Analytics With Spreadsheet

Managerial Decision Modeling Business Analytics With Spreadsheet

Authors: Nagraj Balakrishnan, Barry Render, Ralph Stair, Charles Munson

4th Edition

1501515101, 978-1501515101

More Books

Students also viewed these Accounting questions

Question

★★★★★
In Table 12.2, there is a column on the distortion of welded components, ranging from lowest to highest. Explain why the degree of distortion varies among different welding processes?

Answered: 1 week ago

Question

★★★★★
What are psychological contracts? Discuss the main features of psychological contracts and how they develop. Discuss how employees psychological contracts might be violated and the consequences of...

Answered: 1 week ago

Question

★★★★★
Imagine that you are the CEO of a large company. What factors would you have to consider in order to make sure that workers are happy, healthy and employable, while at the same time striving to reach...

Answered: 1 week ago

Question

★★★★★
The cost of Baxters inventory at the end of the year was $50,000. Due to obsolescence, the cost to replace the inventory was only $40,000. Net realizable valuewhat the inventory could be sold foris...

Answered: 1 week ago

Question

★★★★★
eBook Show Me How Professional Products Inc., a wholesaler of office products, was organized on February 5 of the current year, with an authorization of 100,000 shares of preferred 2% stock, $40 par...

Answered: 1 week ago

Question

★★★★★
Montoure Company uses a perpetual inventory system. It entered into the following calendar-year purchases and sales transactions. Date Activities Units Acquired at Cost Units Sold at Retail January 1...

Answered: 1 week ago

Question

★★★★★
How does selection differ from recruitment ?

Answered: 1 week ago

Question

★★★★★
1. A man on a motorcycle is initially at point A At time t = 0, the man travels along the + path shown to point B. The amount of time required to complete each segment of the 2 set path is also...

Answered: 1 week ago

Question

★★★★★
A 6 m high pier rests on a 2 m x 2 m square footing at 1-5 m depth from the surface at a site having uniform clayey soils. The unconfined compressive strength of the clay is 100 kPa and its bulk unit...

Answered: 1 week ago

Question

★★★★★
As an analyst for FinCorp Inc., you are responsible for many firms, including ADFC. Currently you have a "hold" recommendation on ADFC.20 The current price of ADFC is $140. You have conducted an...

Answered: 1 week ago

Question

★★★★★
Troy Engines, Ltd., manufactures a variety of engines for use in heavy equipment. The company has always produced all of the necessary parts for its engines, including all of the carburetors. An...

Answered: 1 week ago

Question

★★★★★
a) Consumers are usually sensitive to price change, discuss how both income and substitution effects explains consumer behaviour. [8 Marks] b) John is searching for a new car in the Car Bazaar. He...

Answered: 1 week ago

Question

★★★★★
The role of society: This consists of service to the local community, society and nature.

Answered: 1 week ago

Question

★★★★★
13. Think about a relationship conflict you have had in your workplace or home situation. Try to interpret the conflict from the following logical levels: a. Purpose b. Role c. Values d. Competence...

Answered: 1 week ago

Question

★★★★★
7. Imagine a communication situation in a work context or in the home situation that has made a big impression on you, positively or negatively. a. Examine now i. your own intentions ii. what you...

Answered: 1 week ago

Previous Question Next Question