During the year, the following sales transactions occur. There is a charge of 3% on all credit card transactions and a 1% charge on all debit card transactions. 1. Total cash sales = $330,000 2. Total check sales = $180,000 3. Total credit card sales = $430,000 4. Total debit card sales = $260,000 Calculate the amount recorded as cash receipts from these transactions. Total cash sales Total check sales Total credit card sales Total debit card sales Total cash receipts $ 0

During the year, the following sales transactions occur. There is a charge of 3% on all credit card transactions and a 1% charge on all debit card transactions. Total cash sales = $380,000 Total check sales = $230,000 Total credit card sales = $480,000 Total debit card sales = $210,000 calculate the amount recorded as cash receipts from these transactions

Jumbotron Inc. collects its receivables in 15 days and pays its payables in 20 days. All sales and purchases are on credit. All months have 30 days. December purchases were $7,000, January purchases were $8,700, February purchase were $6,600 and March purchases were $6,000. What were Jumbotron's total cash disbursements in February? (To the nearest $) ● ● $7,667 $8,000 $1,867 $6,533 $5,600

MN.3.

Logan Sales provides the following​ information:   Net credit​ sales: $770,000 Beginning net accounts​ receivable: $45,000.00 Ending net accounts​ receivable: $22,000 Calculate the accounts receivable turnover ratio.​ (Round your answer to the nearest whole​ number.)         A. 23 times   B. 35 times   C. 33 times   D. 17 times

During its first year of operations, Fertig Company had credit sales of $3,000,000, of which $400,000 remained uncollected at year- end. The credit manager estimates that $18,000 of these receivables will become uncollectible. The accounts receivable turnover is 10 times and average collection period is 36.5 days. Assume that average net accounts receivable were $300.000. Explain what these measures tell us. BI V T, TI E LE E H I 99 H E à ला 11 A A OWord(s)

Use the following information about a company's receivable transactions to determine relevant balances. * Account balances at 1/1/x2 Accounts receivable $100,000 Allowance for doubtful accounts 7,000 Allowance for sales returns 2,000 During the year, 20x2, the company had the following transactions related to receivables: • Credit sales revenue of $350,000 recorded. • Cash collections from accounts of $370,000. • Customer account write-offs in the amount of $10,000 • Customer returns of credit sales in the amount of $3,500. • Bad debt expense of $5,000 recorded at the end of the period. • The company estimates sales returns at 2% of credit sales revenue for the period. Determine the net realizeable value of receivables at the end of the year as disclosed on the balance sheet.

Fred's Factory has credit sales of $747,500 and an average accounts receivable balance of $57,500. Fred factors his receivables throughout the year with his local bank at a 2% discount. What is the effective annual rate of this arrangement? Multiple Choice 27.88% 29.24% 28.67% 28.03% 30.04%

J. Whitlock Co. had $1,000 of credit cards sales. The net cash receipts were deposited immediately into Whitlock's bank account less a 5% fee. The entry to record this sales transaction would include a debit to:

Bank Alfatih earned an annual profit amounting to USD1,500,000 through a Mudharaba Mutlaqah deposit account. The profit sharing ratio between the bank and the depositors of the Mudharaba deposit account is (40:60) respectively. The table below contains data on the deposit types that are available, average balance needed, and the weights that are used.   Deposit Types Average balance Weights 1 month 300,000 0.5 3 months and less 400,000 0.8 6 months and less 600,000 1 12 months and less 800,000 1.25 Total 2,100,000     Calculate the total depositors’ share from the annual profit.  Calculate the weighted average balance for each type of deposits.