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Please solve the questions 3,4,5,6 At the beginning of 2015, Spartans Company has net accounts receivable of $80,000. At the end of 2015, the company
Please solve the questions 3,4,5,6
At the beginning of 2015, Spartans Company has net accounts receivable of $80,000. At the end of 2015, the company reported net credit sales of $940, 500, and net accounts receivable of $85,000. Assuming 365 days in a year, determine the average number of days for the company to collect its receivables (rounded to the nearest day)? Jayhawks Company began the year 2016 with a balance of $4, 350 in its Allowance for Doubtful Accounts. During 2016, the company wrote off $8, 100 of delinquent accounts. On December 31, 2015, the company estimates that 6.5% of its Accounts Receivable balance of $88,000 will be uncollectible. What amount will the company report as Bad Debts Expense on its 2016 income statement? On January 1, 2016, the Accounts Receivable balance was $35, 700 and the balance in the Allowance for Doubtful Accounts was $3, 400. On January 15, 2016 a $1, 250 uncollectible account was written-off. The net realizable value of accounts receivable immediately after the write-off is: On September 1, 2015, Boilermakers Company extended a $34,000, 7 month, 9% promissory note to a customer. Assuming the company's accounting period ends on December 31, determine the revenue earned by the company in 2016Step by Step Solution
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