During 2010, Dawson's first year of operations, the following transactions occurred:
Credit sales of $ \$ 2,000,000 $.
Collections on ac count of $ \$ 1,700,000 $.
Accounts receivable written off during the year, $ \$ 5,000 $.
Estimated uncollectible accounts $ \$ 8,000 $.
Accepted a $ \$ 10,000 $ one-year. $ 12 \% $ note receivable on June 30
Required:
Prepare as appropriate:
a. The receivables portion of Dawson's first year operations balance sheet.
b. Notes to the financial statments for receivalites

Question

During 2010, Dawson's first year of operations, the following transactions occurred:
 Credit sales of $ \$ 2,000,000 $.
Collections on ac count of $ \$ 1,700,000 $.
Accounts receivable written off during the year, $ \$ 5,000 $.
Estimated uncollectible accounts $ \$ 8,000 $.
Accepted a $ \$ 10,000 $ one-year. $ 12 \% $ note receivable on June 30
 Required:
Prepare as appropriate:
 a. The receivables portion of Dawson's first year operations balance sheet.
b. Notes to the financial statments for receivalites

Quizplus · Accepted Answer

The Answer of During 2010, Dawson's first year of operations, the following transactions occurred:
 Credit sales of $ \$ 2,000,000 $.
Collections on ac count of $ \$ 1,700,000 $.
Accounts receivable written off during the year, $ \$ 5,000 $.
Estimated uncollectible accounts $ \$ 8,000 $.
Accepted a $ \$ 10,000 $ one-year. $ 12 \% $ note receivable on June 30
 Required:
Prepare as appropriate:
 a. The receivables portion of Dawson's first year operations balance sheet.
b. Notes to the financial statments for receivalites

During 2010, Dawson's First Year of Operations, the Following Transactions $2,000,000 \$ 2,000,000 $2,000,000

During 2010, Dawson's First Year of Operations, the Following Transactions $\$ 2,000,000$