Jeymi Severino Assignment #1 Due Jan. 12th , 2013 BE 8 -1, 2, 3, 8 1) a. Other receivables b. Notes receivables c. Accounts receivables 2) a.

Accounts Receivables Sales Revenue b. Sales Returns and Allowances Accounts Receivables c. Cash Discounts Account Receivables 3) a. Allowance: Doubtful Accounts Accounts Receivables b. Accounts Receivable Less Allowance Cash Realizable Value E 8- 3, 7, 8 3) a. Accounts Receivables Sales Revenue Cash Accounts Receivables b. Allowance for Doubtful Before Write up 700,000 25,000 675,000 After Write up 695,700 20,700 675,000

23,000 23,000 2,400 2,400 20,188 412 20,600

4,300 4,300

800,000 800,000 763,000 763,000 7,300

Jeymi Severino Assignment #1 Due Jan. 12th , 2013 Accounts Accounts Receivables c. Accounts Receivables Sales Revenue Cash Accounts Receivables d. Bad Debt Expense Allowance for Doubtful Accounts e. Accounts Receivables Beginning Bal. 200,000 Sales 800,000 Recovery 3,100 Ending Balance. 229,700 Allowance for Doubtful Accounts Write-off 7,300 Beg. Balance Recovery Bad debts Ending Balance 20,200 3,100

7,300

3,100 3,100 3,100

20,200

Collections 763,00 Write-off 7,300 Collections 3,100

9,000 3,100 20,200 25,000

f. Net realizable value of receivables = 229,700 25,00 = 204,700 7) NOV. 1 DEC.11 16 Notes Receivable 60,00 Cash Notes Receivable 3,600 Sales Revenue Notes Receivable 12,00 Accounts Receivabl e (Adcock) 60,000 3,600 12,000

Jeymi Severino Assignment #1 Due Jan. 12th , 2013 31 Interest Receivable Interest Revenue 8) May 1 Dec. 31 May 1 Notes Receivable Accounts Receivable Interest Receivable Interest Rev Cash Notes Receivable Interest Receivable Interest Rev

761 761 5,000 5,000 200 200 5,300 5,000 200 100