The writer is very fast, professional and responded to the review request fast also. Thank you.
Q 8.41:Why are Short-Term Receivables listed after Short-Term Investments on a classified balance sheet?
Q 8.41:Walker Inc. wrote Brown Inc. a promissory note that it later dishonored. The total amount due on the note is $7,750. When recording the dishonor of the note, Brown should
A :
record a debit of $7,750 plus interest to Accounts Receivable if it expects eventual repayment or a $7,750 credit to Allowance for Doubtful Accounts if it does not expect repayment.
B :
record a credit of $7,750 plus interest to Accounts Receivable if it expects eventual repayment or a $7,750 credit to Allowance for Doubtful Accounts if it does not expect repayment.
C :
record a debit of $7,750 plus interest to Accounts Receivable if it expects eventual repayment or a $7,750 debit to Allowance for Doubtful Accounts if it does not expect repayment.
D :
record a credit of $7,750 plus interest to Accounts Receivable if it expects eventual repayment or a $7,750 debit to Allowance for Doubtful Accounts if it does not expect repayment.
Q 8.41:On November 1
st
, Moth Inc. writes Butterfly Corp. a $7,500, 5-month, 12% promissory note to settle an account. On the same date, Butterfly records a $7,875 debit to Notes Receivable, a $375 credit to Interest Revenue, and a $7,500 credit to Accounts Receivable in its books. In this scenario,
Butterfly’s net income will be overstated because it improperly included the interest revenue when first recording the note.
D :
those 3 questions give me hard time can you please give me the answer with explanation?
Show more
Delivering a high-quality product at a reasonable price is not enough anymore.
That’s why we have developed 5 beneficial guarantees that will make your experience with our service enjoyable, easy, and safe.
You have to be 100% sure of the quality of your product to give a money-back guarantee. This describes us perfectly. Make sure that this guarantee is totally transparent.
Read moreEach paper is composed from scratch, according to your instructions. It is then checked by our plagiarism-detection software. There is no gap where plagiarism could squeeze in.
Read moreThanks to our free revisions, there is no way for you to be unsatisfied. We will work on your paper until you are completely happy with the result.
Read moreYour email is safe, as we store it according to international data protection rules. Your bank details are secure, as we use only reliable payment systems.
Read moreBy sending us your money, you buy the service we provide. Check out our terms and conditions if you prefer business talks to be laid out in official language.
Read more