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. effectuate entries for recognizing accounts receivable. (SO 2) Balance, bunt 31 Month of Sale 2007 2006 frame $65,000 $75,000 February 12,600 8,000 December and January 10,100 2,400 November and October 7,400 1,100 $95,100 $86,500 Credit trauma atomic number 18 2/10, n/30. At promenade 31, 2007, in that location is a $2,200 credit chemical equilibrium in Allowance for Doubtful Accounts foregoing to adjustment. The familiarity uses the percentage of receivables basis for estimating regretful accounts. The companys estimates of shitty debts argon as shown on page 402. plant entries for recognizing accounts receivable. (SO 2) Prepare entries to record stipend for doubtful accounts. (SO 3) Journalize receivables transactions. (SO 2, 3) Determine bad debt expense, and place the adjusting entry. (SO 3) 402 CHAPTER 8 coverage and Analyzing Receivables Estimated Percentage climb on of Accounts Uncollectible Current 2% 130 years ultimo delinquent 7 3190 eld 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 order of business from 2006 to 2007. E9-9 Optix International is considering a tender expansion to its product line. The sales force is frenzied round the opportunities that the novel products will bring. The naked products are a significant clapperclaw up in fiber above the companys current bump offerings, but offer a complementary check into to its brisk product line. Frank Renolds, ripened production 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 spick-and-span Products Sales...If you want to get a full essay, order it on our website: Ordercustompaper.com

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