Examlex
During 2015, Davidson's first year of operations, the following transactions occurred:
∙ Credit sales of $2,000,000.
∙ Collections on account 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 the receivables portion of Davidson's first year operation's balance sheet as of December 31, 2015.
Agonist
A chemical or drug that binds to receptors in the body and activates them to produce a biological response.
Stimulates
To encourage something to grow, develop, or become active.
Pharmacodynamic
The branch of pharmacology concerned with the effects of drugs and the mechanism of their action in the body.
Capsules
Small, typically cylindrical, dosage forms designed to encapsulate medicines for oral administration, aiding in ease of consumption and absorption.
Q4: Generally, valuing inventory above cost<br>A) violates conservatism
Q22: Creditors' information needs revolve around all of
Q44: Draper Company's controller was explaining to the
Q51: Which Principle of the AICPA Code of
Q65: The Samuel Company uses the straight-line method
Q68: Bailey's Manufacturing Company is looking at changing
Q69: Which fundamental characteristic is an ingredient of
Q102: A member of the board of directors
Q122: The lower-of-cost-or-market rule must be applied to
Q162: All of the following are nontrade receivables