The following information comes from the accounts of James Company on December 31: Required a....
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Accounting
The following information comes from the accounts of James Company on December 31: Required a. There were $180,200 of sales on account during the accounting period. Write-offs of uncollectible accounts were $1,800. Wha 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? b. The note receivable has an annual interest rate of 4.25 percent and a two-year term (8.50 percent interest rate over the life of the note). 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.) Complete this question by entering your answers in the tabs below. The note receivable has an annual interest rate of 4.25 percent and o two-year term (8.50 percent interest rate over the life of the note). 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.)
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