The following selected account balances appeared on the financial statements of the franklin company. use these balances to answer the question that follow. accounts receivable, jan. 1 $16,718 accounts receivable, dec. 31 8,513 accounts payable, jan. 1 5,170 accounts payable, dec. 31 9,627 inventory, jan. 1 8,465 inventory, dec. 31 14,817 sales 71,398 cost of goods sold 36,351 the franklin company uses the direct method to calculate net cash flow from operating activities. assume that all accounts payable are owed to merchandise suppliers. determine the cash collections from customers.

When the federal reserve buys bonds from or sells bonds to member banks, it is called monetary policy reserve ratio interest rate adjustment open market operations

Exercise 7-7 martinez company reports the following financial information before adjustments. dr. cr. accounts receivable $168,900 allowance for doubtful accounts $3,200 sales revenue (all on credit) 849,300 sales returns and allowances 50,440 prepare the journal entry to record bad debt expense assuming martinez company estimates bad debts at (a) 4% of accounts receivable and (b) 4% of accounts receivable but allowance for doubtful accounts had a $1,550 debit balance. (if no entry is required, select "no entry" for the account titles and enter 0 for the amounts. credit account titles are automatically indented when the amount is entered. do not indent manually.)

Will ged let you use the app for the real ged test