In the month of December, Fruits Pte Ltd made credit sales of $15,000 and a cash sale of $5,000: Accounting Home Work, NUS, Singapore
| University | National University of Singapore (NUS) |
Question 3
On 1 Dec 2023, Fruits Pte Ltd’s trial balance includes the following items:
(i) In the month of December, Fruits Pte Ltd made credit sales of $15,000 and a cash sale of $5,000.
An aging analysis of the rest of the accounts receivables indicated that an estimated 3% of these accounts would not be collectible.
The company uses the allowance method to value its accounts receivables
(a) Journalise the transactions above including the necessary adjusting journal entries for the company to recognize bad debts. Narration is not required. However, it is important to present all the workings. Round your answers to the nearest $.
(b) Determine the net realizable value of the accounts receivable as of 31 Dec.
Hire a Professional Essay & Assignment Writer for completing your Academic Assessments
Seeking assistance with Accounting homework? Discover unparalleled support with our services! Avail yourself of cost-effective solutions through our Cheap Homework Help in Singapore and reliable assignment help online. Singaporean students, enhance your academic journey by paying our experts for tailored assistance. Optimize your success in Accounting—choose our dedicated service to amplify your learning experience with affordability and expertise!
- ESG531 Circular Economy for a Sustainable Future Group-Based Assignment: Circular Transformation Roadmap for SMEs towards 2030
- Business Marketing Assignment: Showcasing Fresco Pizza Hub’s Competitive Advantage over MegaSlice Pizza
- ECE210 Advocacy and Collaborations with Families Assignment: Supporting Grieving Children Through Culturally Responsive and Family-Centred Practices
- ACC707 Accounting and Finance Assignment: Evaluating Investment Decisions, Budgeting Practices, and Financial Performance through Ratio Analysis
- NCO201 Learn to Learn, Learn for Life TMA01: Developing Self-Awareness and Strategies for Lifelong Learning
- PSS219 Public Safety and Security in Singapore Group-Based Assignment: Analyzing Ministry Strategies and Challenges from the 2025 Committee of Supply Debate
- MTH240 Engineering Mathematics I TMA: Applications of Linear Algebra in Engineering Problems and System Analysis
- Engaging Youth with IBM Skills Build Assignment: Developing Creative Approaches to Boost Skills and Career Prospects
- BUS368 Innovation Management and Digital Transformation Assignment: Managing Innovation and Uncertainty in Foldable, Trifold, and Stretchable Display Technologies
- BUS366 Assignment: Enhancing Process Efficiency and Recruitment Effectiveness through Lean Six Sigma Methodologies
UP TO 15 % DISCOUNT