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Solve the following for the Zina company. 1) Determine the missing amounts for your company 2) Determine the % of accounts receivable estimated to be
Solve the following for the Zina company.
1) Determine the missing amounts for your company
2) Determine the % of accounts receivable estimated to be uncollectible at the end of the Year 1 and Year 2 for your company
3) Determine the % of total sales that are sales on account for your company.
4) Determine the accounts receivable turnover for your company.
Expo White Zina $210,000 26,000 Total sales Cash sales Sales on account Accounts receivable, January 1, Year 2 Accounts receivable, December 31, Year 2 Allowance for doubtful accounts, January 1, Year 2 Allowance for doubtful accounts, December 31, Year 2 Uncollectible accounts expense, Year 2 Uncollectible accounts written off Collections of accounts receivable, Year 2 $125,000 $120,000 75,000 40,000 6,200 5,600 42,000 48,000 7,500 405 224 242 204 1,680 1,200 1,360 395 365 75,235Step by Step Solution
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