Quiz – Rahal’s Auto Parts
Intermediate Accounting
Spiceland, Nelson, and Thomas
10th Edition
What are Rahal’s accounts receivable on 12/31?
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What are Rahal’s accounts receivable on 12/31?
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Given sales on air conditioning units and the terms of the sale, they ask you to prepare journal entries for the sale along with recording the receipt.
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Find what the net sales would be on the income statement.
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Given the possible credit losses on two different notes, they ask you to determine the bad debt expense using the CECL and ECL models.
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Given accounts receivable, allowance for uncollectible accounts, and credit sales, they ask you to determine the amount that should be charged to the bad debt expense under two methods.
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Given the amount owed under a note along with interest, they ask you to determine the credit loss that the bank would record and prepare journal entries to record the credit loss.
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Given information on a note signed and the amount exchanged for, they ask you to prepare a journal entry along with computing the effective annual rate of interest.
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Trell will show an amount receivable from factor of:
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Given items that were contained in the petty cash fund, they ask you to prepare journal entries to establish the petty cash account.
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