1______weather the accounts receivable bookkeeper is prohibited from handling cash?   3_____the ratio of cost of goods sold to sales and compare the ratio to previous years? 4____the sales journal and ------- the total to the general ledger

Match the term with its definition. Allowance Method Cash Factoring Net Realizable Value Percentage-of-Receivables Method Restricted Cash A procedure that records unc [Choose ] Time Elapsed: Hide Time Attempt due: Apr 7 at 11:59pm 18 Hours, 38 Minutes, 32 Seconds The amount of the accounts receivable balance that the company actually expects to receive. Correct Answer A procedure that records uncollectible accounts by recording the bad debt expense on an estimated basis in the accounting period in which the sale on accout takes place. C A method of selling accounts receivable where the seller guarantees payment to the purchaser in the event the debtor fails to pay. Correct Answer short term investments with a maturity date of three months or less Generated through transactions from customers for goods bought or services rendered. Correct Answer When material, is required to be segregated and shown as either a current or long term asset on the balance sheet depending on it's expected…

The bank statement for Jeffrey Co. indicates a balance of $8,785 on October 31. After the journals for October had been posted, the cash account had a balance of $8,998. a. Cash sales of $945 had been erroneously recorded in the cash receipts journal as $495. b. Deposits in transit not recorded by bank, $778. c. Bank debit memo for service charges, $40. d. Bank credit memo for note collected by bank, $23,985 plus $885 interest. e. Bank debit memo for $756 NSF (not sufficient funds) check from Calin Sams, a customer. f. Checks outstanding, $1,860. Record the appropriate journal entries that would be necessary for Jeffrey Co. Record the entry that increases cash first. If an amount box does not require an entry, leave it blank.

Bank Raconciliation The folowing data were accumudated for use in raconciling the bark account of Mathers Ca. for Juy: 1. Cash balance according to the company's records at July 31, $32,110. 2. Cash balance according to the bank statament at uly 31, $31,350. 3. Checks outstanding, $2,870. 4. Diposit in transik, not recorded by bank, $4,150. S. A check for $170 in payment of an accout was orroneously recorded in the check regite as $710. 6. Bank debit memo for service charges, $20. a Propare a bank reconcilation, uing the format shown in Exhibit 14. Hathers Co. Bark Raconciliation Cash balance according to bark satement Add deposit in transit, not recorded by bank Deduct outstanding chacks Adustad batance Cash balance acording to company's ncords Add error in recording check as $710 instead of $170 Daduct bank service charge Aduilad balane DEVZE Petack YCheck My Wuk . Sup twO u cre for th cRmpa MTUn ad he uher lor he bark bance n Delamne he wf b. If the balarka stdprepur x ott're Must…