Gomez corp. uses the allowance method to account for uncollectibles. on january 31, it wrote off an $800 account of a customer, c. green. on march 9, it receives a $300 payment from green. 1. prepare the journal entry for january 31. 2. prepare the journal entries for march 9; assume no additional money is expected from green.

Aminor has the legal right to repudiate

Margaret company reported the following information for the current year: net sales $3,000,000 purchases $1,957,000 beginning inventory $245,000 ending inventory $115,000 cost of goods sold 65% of sales industry averages available are: inventory turnover 5.29 gross profit percentage 28% how do the inventory turnover and gross profit percentage for margaret company compare to the industry averages for the same ratios? (round inventory turnover to two decimal places. round gross profit percentage to the nearest percent.)

For the year ended december 31, a company has revenues of $323,000 and expenses of $199,000. the company paid $52,400 in dividends during the year. the balance in the retained earnings account before closing is $87,000. which of the following entries would be used to close the dividends account?