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The following information comes from the accounts of James Company on December 31: Required 1. There were $182,000 of sales on account during the accounting
The following information comes from the accounts of James Company on December 31: Required 1. There were $182,000 of sales on account during the accounting period. Write-offs of uncollectible accounts were $1,800. What was the amount of cash collected from accounts receivable? What amount of uncollectible accounts expense was reported on the income statement? What was the net realizable value of receivables at the end of the accounting period? 1. The note receivable has an annual interest rate of 3.25 percent and a two-year term (6.50 percent interest rate over the life of the note). What amount of interest revenue was recognized during the period? How much cash was collected from interest? (Round your answers to the nearest dollar amount.) Complete this question by entering your answers in the t below. There were $182,000 of sales on account during the accounting period. Write-offs of uncollectible accounts w $1,800. What was the amount of cash collected from accc receivable? What amount of uncollectible accounts expen was reported on the income statement? What was the net realizable value of receivables at the end of the accountin! period? The following information comes from the accounts of James Company on December 31: Required 1. There were $182,000 of sales on account during the accounting period. Write-offs of uncollectible accounts were $1,800. What was the amount of cash collected from accounts receivable? What amount of uncollectible accounts expense was reported on the income statement? What was the net realizable value of receivables at the end of the accounting period? 1. The note receivable has an annual interest rate of 3.25 percent and a two-year term (6.50 percent interest rate over the life of the note). What amount of interest revenue was recognized during the period? How much cash was collected from interest? (Round your answers to the nearest dollar amount.) Complete this question by entering your answers in the t below. The note receivable has an annual interest rate of 3.25 per and a two-year term (6.50 percent interest rate over the lif the note). What amount of interest revenue was recognize during the period? How much cash was collected from interest? (Round your answers to the nearest dollar amour
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