collected $1,450 which had been written off as uncollectible in 2012.
As a result of these transactions, the change in the accounts receivable
balance indicates a
$102,000 increase.
$100,550 increase.
$46,550 increase.
$48,000 increase.
15-
Multiple Choice Question 142
A 5%, 120-day note receivable is received from a customer to settle an
existing account receivable of $75,000. Assuming a 360 day year, the
accounting entry for acquisition of the note will include a
debit to Notes Receivable for $75,000 and no entry for interest.
debit to Notes Receivable for $76,250.
debit to Notes Receivable for $78,720.
credit to Interest Revenue for $1,250.
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ACC 557 Week 6 Chapter 9 (E9-9, E9-11, E9-12, P9-3A)
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