answer with complete solution pls 9-17: The books of Concepcion, Inc. show the following balances on December 31,2013:Accounts ReceivableDeferred Gross Profit (before adjustment)Analysis and aging of the accounts receivable reveal the following:Regular Accounts2012 installment accounts2013 installment accountsP627,50076,000a. P23,500b. P52,500c. P45,000d. P69,750P415,00032,500180,000Sales on an installment basis in 2012 were made at 30 percent above cost, in2013, at 33 1/3 percent above cost. What is the total realized gross profit for theyear ended December 31, 2013:

The installment sales method is defined as an agreement in which the buyer is entitled to make…

Answered: answer with complete solution pls

Business

Accounting

answer with complete solution pls

Financial Accounting Intro Concepts Meth/Uses

14th Edition

ISBN:9781285595047

Author:Weil

Publisher:Weil

Chapter8: Revenue Recognition, Receivables, And Advances From Customers

Section: Chapter Questions

Problem 25E

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Inferring Accounts Receivable Amounts At the end of 2019, Karras Inc. had a debit balance of 141,120 in its accounts receivable. Additionally, Karras had a credit balance in its allowance for doubtful accounts of 4,350 and 9,420 at the beginning and end of the year, respectively. During the year, Karras made credit sales of 1,530,000, collected receivables in the amount of 1,445,700, and recorded bad debt expense of 83, 750. Required: Next Level Compute the amount of accounts receivable that Karras wrote off during the year and the amount of accounts receivable at the beginning of the year.
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The following data are taken from the financial statements of Colby Company. Accounts receivable (net), end of year Net sales on account Terms for all sales are 1/10, n/45 Accounts Receivable turnover Average collection period (b) B I U T₂ T² Ix 2022 $550,000 4,300,000 2022 7.9 times lil 2021 What conclusions about the management of accounts receivable can be drawn from the accounts receivable turnover and the average collections period. € $540,000 4,000,000 2021 46.2 days 48.7 days 7.5 times W 144 144 들 3 99 = á T ¶₁
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