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The following account balances come from the records of Ourso Company: Accounts receivable Allowance for doubtful accounts Beginning Balance $2,799 108 Ending Balance $3,786 197
The following account balances come from the records of Ourso Company: Accounts receivable Allowance for doubtful accounts Beginning Balance $2,799 108 Ending Balance $3,786 197 During the accounting period, Ourso recorded $11,400 of sales revenue on account. The company also wrote off a $161 account receivable. Required a. Determine the amount of cash collected from receivables. b. Determine the amount of uncollectible accounts expense recognized during the period. a. Collections of accounts receivable b. Uncollectible accounts expense Luna Company accepted credit cards in payment for $6,000 of services performed during July. The credit card company charged Luna a 2.55 percent service fee; it paid Luna as soon as it received the invoices. Required Based on this information alone, what is the amount of net income earned during the month of July? (Do not round intermediate values. Round final answer to 2 decimal places.) Net income
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