The following information is extracted from the books of Zone for the month of January: $ Credit purchases 100,258 Cash received from customers 110,568 Returns to suppliers 20,426 Irrecoverable debts written off 224 Receivable ledger balances 1 January 14,968 Payables ledger balances 1 January 54,010 Closing inventory 100,142 Credit sales 148,580 Returns from customers 2,508 Discounts allowed 1,824 Discounts received 864 Cash paid to suppliers 56,546 Required: Prepare the receivables ledger control account and the payables ledger control account for the month.

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Reproduced below from Farthington Supply's accounting records is the accounts receivable subledger along with selected general ledger accounts.

Required information [The following information applies to the questions displayed below.] At December 31, Hawke Company reports the following results for its calendar year. Cash sales Credit sales $ 1,905,000 $ 5,682,000 In addition, its unadjusted trial balance includes the following items. Accounts receivable Allowance for doubtful accounts $ 1,270, 100 debit $ 16,580 debit 2. Bad debts are estimated to be 1.5% of credit sales. Show how Accounts Receivable and the Allowance for Doubtful Accounts appear on its December 31 balance sheet. Current assets: Accounts payable $ 0

At December 1, 2023, Imalda Inc. reported the following information on its statement of financial position: Accounts receivable Allowance for doubtful accounts $154,000 4,500 (credit balance) The following transactions were completed during December 2023: December 5 Sold merchandise items for $67,000. An amount of $19,000 was received in cash and the rest on account; terms 2/10, n/60. The total cost of sales was $35,000. December 12 Collected amount due from customers for credit sales made on December 5. December 20 Collected $90,000 in cash from customers for credit sales made in November 2023. December 26 One of Imalda's customers that owed $3,000 to the company experienced financial problems and was forced to close its business in December. The full amount was considered uncollectible. Total Estimated % uncollectible The company records sales revenue net of the sales discount. If a customer pays after the discount period, the sales discount that is forfeited is recorded in a…

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Harvest Company has the following December 31 General Ledger Account Balances after adjustments relating to Sales and Receivables: Sales $28,500 (of which 40% are credit sales still outstanding) Sales returns and Allowances $1,000 Miscellaneous Receivables $1,212 Allowance for Doubtful Accounts $1,502 Long term Receivables $9,014 Advances to Shareholders and Directors $4,266 Notes Receivables $2,903 (Current Portion) Bad Debt Expense is estimated as 4% of credit sales Required 1: Assuming no other transaction happened, what is the Bad Debt Expense reported on Decmber 31st? Required 2: Assuming no other transaction happened, what is the adjusted net balance of all current Receivables at December 31st? Required 3: Assuming no other transaction happened, what is the adjusted net balance of Accounts Receivables at December 31st?

A company reports the following: Sales    $572,320Average accounts receivable (net)    20,440

Based on the following data, what is the accounts receivable turnover? Line Item Description Amount Sales on account during year $481,916 Cost of goods sold during year 220,075 Accounts receivable, beginning of year 44,464 Accounts receivable, end of year 52,698 Inventory, beginning of year 82,460 Inventory, end of year 110,155 a. 4.4 b. 9.9 c. 2.2 d. 10.8

Accounts Receivable Balance Beginning accounts receivable were $275,500, and ending accounts receivable were $302,300. Cash amounting to $2,965,000 was collected from customers' credit sales. Required: Calculate the amount of sales on account during the period.