Register now or log in to join your professional community.
The following information has been compiled by Able Manufacturing Company to calculate its open trade receivables for inclusion in its Statement of Financial Position.• Sale of company products for the period to customers with net30 day terms amounting to $150,0.• Sale of company products for the period to a customer, supported by a note for $25,0, with special terms of net180 days. • Balance of trade receivables at the end of the last period was $300,0. • Collections of open trade receivables during the period was $200,0. • Rental income for the period, both earned and accrued but not yet collected, from the Able Employees’ Credit Union for use of company facilities was $2,0. The open trade receivables balance to be shown on the Statement of Financial Position for the period is a) $250,0 b) $252,0 c) $275,0 d) $277,0
Access our industry-best business directory of more than85 million companies and100 million people that’s easily searchable by name, location, or industry, so you can spend less time searching and more time selling.
Do you need help in adding the right keywords to your CV? Let our CV writing experts help you.
