The following information comes from the accounts of James Company: Beginning Balance $25,300 Account Title...
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The following information comes from the accounts of James Company: Beginning Balance $25,300 Account Title Accounts Receivable Allowance for Doubtful Accounts Note Receivable Interest Receivable 1,720 Ending Balance $37,800 2,100 52,800 3,960 52,800 990 Required a. There were $180,700 of sales on account during the accounting period. Write-offs of uncollectible accounts were $1,800. What was the amount of cash collected from accounts receivable? What amount of uncollectible accounts expense was reported on the income statement? What was the net realizable value of receivables at the end of the accounting period? Cash collected Uncollectible accounts expense Net realizable value b. The note receivable has a two-year term with a 7.50 percent interest rate. What amount of interest revenue was recognized during the period? How much cash was collected from interest? (Round your answers to the nearest dollar amount.) Interest revenue recognized for the year Cash received for interest
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