Chapter 7 Homework - Chapter7:CashandReceivables Homework...

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Chapter 7: Cash and Receivables Tiffany Watt Homework October 27, 2010 AC 301 – 01   Brief Exercises BE7-2 Date Account Titles Debi t Cred it June 2007 1 Account receivable $40,00 0 Sales $40,00 0 12 Cash $38,80 0 Sales discounts 1,200 Account receivable $40,00 0 BE7-4 Date Account Titles Debi t Cred it Dec. 2007 31 Bad debt expense $24,00 0 Allowance for doubtful accounts $24,00 0 BE7-9 CRC, Inc. Frederick Factors, Inc. Account Titles Debit Credit Account Titles Debit Credi t Cash $92,0 00 Accounts (Notes) Due from factor 6,000 receivable $100,0 00 Loss on sale of Cash $92,0 00 receivables 2,000 Due to CRC, Inc. 6,000
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Chapter 7: Cash and Receivables Tiffany Watt Homework October 27, 2010 AC 301 – 01   Accounts (Notes) Financing revenue 2,000 receivable $100,0 00
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Chapter 7: Cash and Receivables Tiffany Watt Homework October 27, 2010 AC 301 – 01   Problems P7-1 (a) Account Titles Debit Credit 1. Cash $22,00 0 Sales $22,00 0 Cash $17,64 0 Sales discounts 360 Accounts
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Chapter 7 Homework - Chapter7:CashandReceivables Homework...

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