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The sooner the better, please help Sara signed up and paid $1,140 for a 6 month ceramics course on June 1st with C Ceramics. As
The sooner the better, please help
Sara signed up and paid $1,140 for a 6 month ceramics course on June 1st with C Ceramics. As of October 1st, C's accounting records would indicate: O $1,140 of revenue, $1,140 of cash $760 of revenue, $380 of accounts receivable $380 of revenue, $760 of deferred revenue $760 of revenue, $380 of deferred revenue $380 of revenue, $760 of accounts receivable Unadjusted Balances as of Dec 31: Accounts Receivable Allowance For Doubtful Accounts Sales Sales Returns & Allowances Bad debts is estimated using the Balance Sheet (% of A/R) Method The entry to record estimated bad debt expense requires a debit to bad debt expense of? $34,000 O $ 18,000 $29,680 O $ 14,000 Debit Credit 400,000 2,000 8,000 4% 800,000 Gibson Company paid $3,600 on August 1, for a one-year insurance policy and debited Insurance Expense. The December 31, adjusting entry should: Debit Prepaid Insurance and credit Insurance Expense, $2,100. Debit Prepaid Insurance and credit Insurance Expense, $1,500. Debit Insurance Expense and credit Prepaid Insurance, $1,500. Debit Insurance Expense and credit Prepaid Insurance, $2,100. In preparing its bank reconciliation for the month of April, the following information was available: Balance per bank statement, 4/30 $ 50,000 NSF check returned with 4/30 bank statement 800 Deposits in transit, 4/30 5,200 Outstanding checks, 4/30 4,800 Bank service charges for April 35. What is the correct balance for Cash on April 30? $49,165 $49,565 $50,000 $50,400Step by Step Solution
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