Avril Company makes collections on sales according to the following schedule:

30% in the month of sale
60% in the month following sale
10% uncollectible

The following sales are expected:

Expected Sales
January $100,000
February $120,000
March $110,000

Cash collections/receipts in March should be budgeted to be:

a. $116,000
b. $105,000
c. $110,000
d. $102,000

On december 31 of the current year, the unadjusted trial balance of a company using the percent of receivables method to estimate bad debt included the following: accounts receivable, debit balance of $97,900; allowance for doubtful accounts, credit balance of $1,031. what amount should be debited to bad debts expense, assuming 6% of outstanding accounts receivable at the end of the current year are estimated to be uncollectible?

Circumstances under which pro-forma invoice may be used

At the beginning of each month, desmond receives a written statement from his bank containing all the transactions processed on his checking account for the previous month desmond compares his check register to this bank statement. this comparison is known as your account. a. confirming b. reconciling c. comparing d. finalizing