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    rarbor's Avatar
    rarbor Posts: 2, Reputation: 1
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    #1

    Jun 24, 2013, 06:09 PM
    Accounts receivable
    Accounting for uncollectible accounts: percent of receivables
    Allowance method
    Hammond Inc. experienced the following transactions for 2012, its first year of operations:
    1. Issued common stock for $80,000 cash.
    2. Purchased $225,000 of merchandise on account.
    3. Sold merchandise that cost $148,000 for $294,000 on account.
    4. Collected $242,000 cash from accounts receivable.
    5. Paid $210,000 on accounts payable.
    6. Paid $46,000 of salaries expense for the year.

    Edmonds, Thomas (2011-01-28). Survey of Accounting (Page 192). Business And Economics. Kindle Edition.
    Tc123's Avatar
    Tc123 Posts: 64, Reputation: 7
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    #2

    Jun 28, 2013, 09:28 AM
    What do you need? C'mon please. I was all ready to use my brain here.
    Thanks.
    JudyKayTee's Avatar
    JudyKayTee Posts: 46,503, Reputation: 4600
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    #3

    Jun 28, 2013, 09:51 AM
    Here is posted AMHD policy (written by CurlyBen), available to everyone who joins. You have to do your own homwork with "tweeks" from people who know.

    "Read this first - Expectations for the Homework Help Board:
    Do not simply retype or paste a question from your book or study material

    We won't do your homework questions for you. You were given the assignment for you to learn.

    If you come up with your own answer and post it for us to critique that is within reason.

    If you have some SPECIFIC questions that you couldn't find or didn't understand, we may help with that. But this is your assignment, so show us you have at least attempted to complete it on your own.

    Thank you.”
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