The following data were available for ABC Trading at Dec 31, 20X1: Trade accounts receivable (net of 3,000 credit balance) P89,000 Advances to employees, P17,000 Subscription Receivable, P90,000 Deposits to utility companies, P45,000 Claims from insurance company, P60,000 Trade accounts payable (net of 4,000 debit balance) P56,000 How much is the trade and other receivables at Dec 31, 20X1? a. 211,000 b. 214,000 c. 218,000 d. 301,000

E9-9 Accounts Receivable Analysis Obj. 3 The following data are taken from the financial statements of Rise and Shine Company. Terms of all sales are 2/10, n/30. Accounts receivable, end of year Sales Year 3 SHOW ANSWER $ 450,000 2,640,000 Year 2 $ 375,000 1,957,500 Year 1 $300,000 a. For Years 2 and 3, determine (1) the accounts receivable turnover and (2) the days' sales in receivables. Round to nearest dollar and one decimal place. b. What conclusions can be drawn from these data concerning accounts receivable and credit policies?

A company reports the following: Sales $890,600 Average accounts receivable (net) 44,530 Determine (a) the accounts receivable turnover and (b) the number of days' sales in receivables. Round interim calculations to the nearest dollar and final answers to one decimal place. Assume a 365-day year. a. Accounts receivable turnover 20 b. Number of days' sales in receivables 18 X days

On January 1, 2021, the general ledger of Big Bles: Fireworks includes the following account balances: Accounts Cash Debit Credit $ 23, 308 48, e0e Accounts Receivable Allowance for Uncollectible Accounts $ 4, 580 37, eee Inventory Land 72,100 Accounts Payable Notes Payable (6%, duc in 3 years) 28,98e 37,eee 63,0ee 39,8ee Comnon Stock Retained Earnings Totals $172,400 $172, 400 The $37,000 beginning belance of inventory consists of 370 units, each costing $100. During January 2021, Big Blast Fireworks had the following inventory transactions: January 3 Purchase 1,680 units for $168,89e on account ($185 cach). January 8 Purchase 1,78e units for $187, e0e on account ($110 each). January 12 Purchase 1,88e units for $207, B00 on account ($115 cach). January 15 Return 135 of the units purchased on January 12 because of defects. January 19 Sell 5,2ee units on account for $788, eee. The cost of the units sold is deternined using a FIFO perpetual inventory syston. January 22 Receive $753, eee…