In the First Year of Operations,2012,Ringsted Repair Service Recognized $265,000

question 144

Essay

In the first year of operations,2012,Ringsted Repair Service recognized $265,000 of service revenue on account.The ending accounts receivable balance was $75,000.The company estimates that 3% of sales on account will not be collected.Assume there were no other transactions affecting accounts receivable.
Required:
a)What amount of cash was collected in 2012?
b)What amount of uncollectible accounts expense was recognized in 2012?

Recognize the diversity within religious traditions, including denominational differences.

Grasp the phases and elements involved in the process of religious conversion.

Comprehend the critical perspectives on religion, including Marxism's critique.

Acknowledge the dual role of religion in society as both unifying and divisive.

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Definitions:

American Psychological Association

A professional organization representing psychologists in the United States, responsible for promoting psychological science and practice.

Communication Research

The study of processes, methods, and effects of communication in various contexts, including interpersonal, group, media, and organizational communication.

American Publishers

Companies or individuals in the United States that are involved in the production and dissemination of literature or media.

Academic Publishing

The process of publishing scholarly work, including journal articles, books, and conference proceedings, for the academic and research community.