The following account balances come from the records of Ourso Company: Beginning Balance $3,099 127 Ending Balance $3,860 Accounts receivable Allowance for doubtful accounts 175 During the accounting period, Ourso recorded $11,150 of sales revenue on account. The company also wrote off a $177 account eceivable. Required a. Determine the amount of cash collected from receivables. o. Determine the amount of uncollectible accounts expense recognized during the period. a. Collections of accounts receivable b. Uncollectible accounts expense

show how the accounts related to the preceding sale and collection activities shoukd be reported on the current year income statement PLEASE DO NOT ANSWER IMAGE FORMET

The trial balance of Pacilio Security Services, Incorporated as of January 1, Year 8, had the following normal balances: $93,708 100 22,540 1,334 1. 2. 3. 4. 5. 6. 7. 8. 9. 10. 11. 12. 13. Cash Petty cash Accounts receivable Allowance for doubtful accounts Supplies Prepaid rent Merchandise inventory (18@ $285) 14. 15. 16. 17. 18. 19. 20. 21. 22. 23. Land Salaries payable Common stock Retained earnings During Year 8, Pacilio Security Services experienced the following transactions: 1. Paid the salaries payable from Year 7. 2. Purchased equipment and a van for a lump sum of $36,000 cash on January 2, Year 8. The equipment was appraised for $10,000 and the van was appraised for $30,000. Requirement 3. Paid $9,000 on May 1, Year 8, for one year's office rent in advance. 4. Purchased $300 of supplies on account 5. Purchased 120 alarm systems at a cost of $280 each. Pald cash for the purchase. 6. After numerous attempts to collect from customers, wrote off $2,350 of uncollectible accounts…

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A company uses gross method for accounting for cash discounts and began the period with $100 balance in its acocunts receivable account and $8 credit balance in its allowance for doubtful accounts. During the period, the company made sales on account for $200. It collected $220 cash from outstanding accounts and recorded $30 of sales discounts in the collection. During the period, the company wrote off $20 of accounts that it considered uncollectible. The company also reinstated $5 of accounts from a prior period (but it did not collect cash during the current period). Calculate the balance of accounts receivable after recording the transactions during the period.

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Entry for cash sales; cash over The actual cash received from cash sales was $315,280, and the amountindicated by the cash register total was $315, 150. Journalize the entry torecord the cash receipts and cash sales.

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…