Nat busprog analytic sta aicpa fn measurement acbsp

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Accounting Information Systems
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Chapter 13 / Exercise SP13-5
Accounting Information Systems
Dull/Gelinas
Expert Verified
NAT: BUSPROG: Analytic STA: AICPA: FN-Measurement | ACBSP: APC-12-Receivables ReportingPROBLEM16. ANS: DebitCreditA)6/03Accounts Receivable45,000Sales Revenue45,000B)6/10Cash 44,100Sales Discounts ($45,000 2%)900Accounts Receivable45,000C)6/21Cash45,000Accounts Receivable45,000
PTS: 1 DIF: DIFFICULTY: Moderate OBJ: LO: 6-1NAT: BUSPROG: Analytic STA: AICPA: FN-Measurement | ACBSP: APC-12-Receivables Reporting
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Accounting Information Systems
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Chapter 13 / Exercise SP13-5
Accounting Information Systems
Dull/Gelinas
Expert Verified
ID: A317. ANS: DebitCreditA)Allowance for Bad Debts6,000 Accounts Receivable6,000B)Bad Debt Expense12,000 Allowance for Bad Debts12,000($1,200,000 1% = $12,000)C)Accounts receivable$50,000 Less: Allowance for bad debts13,000*Net accounts receivable$37,000*$7,000 6,000 + 12,000 = $13,000
PTS: 1 DIF: DIFFICULTY: Challenging OBJ: LO: 6-1 | LO: 6-3NAT: BUSPROG: Analytic STA: AICPA: FN-Measurement | ACBSP: APC-12-Receivables Reporting

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