Acc Week 2

E8-5 Hachey Company has accounts receivable of $95,100 at attest 31, 2007. An analysis of the accounts shows these amounts. establish entries for recognizing accounts receivable. (SO 2) Balance, March 31 Month of Sale 2007 2006 March $65,000 $75,000 February 12,600 8,000 declination and January 10,100 2,400 November and October 7,400 1,100 $95,100 $86,500 Credit scathe are 2/10, n/30. At March 31, 2007, thither is a $2,200 credit balance in Allowance for Doubtful Accounts preliminary to adjustment. The familiarity uses the percentage of receivables basis for estimating spoilt accounts. The fraternitys estimates of shitty debts are as shown on page 402. arrive at entries for recognizing accounts receivable. (SO 2) Prepare entries to record allowance for tentative accounts. (SO 3) Journalize receivables transactions. (SO 2, 3) Determine bad debt expense, and prepare the adjusting entry. (SO 3) 402 CHAPTER 8 coverage and Analyzing Receivables Es timated function Age of Accounts Uncollectible Current 2% 130 years ultimo due 7 3190 days past due 30 Over 90 days 50 Instructions (a) Determine the aggregate estimated uncollectibles. (b) Prepare the adjusting entry at March 31, 2007, to record bad debts expense.

(c) wrangle the implications of the changes in the aging schedule from 2006 to 2007. E9-9 Optix International is considering a satisfying expansion to its product line. The sales force is excited round the opportunities that the saucy products will bring. The juvenile products are a important step up in quality above the companys cur rent offerings, but offer a complemental ! check into to its existing product line. Frank Renolds, senior takings department manager, is actually excited about the high-tech new equipment that will pay off to be acquired to produce the new products. Carol Fischer, the companys CFO, has provided the following projections based on results with and without the new products. Without sore Products With New Products Sales...If you want to get a full essay, order it on our website: BestEssayCheap.com

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