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Walker Clothing Store had a balance in the Accounts Receivable account of $390,000 at the beginning of the year and a balance of $410,000 at the end of the year. Net credit sales during the year amounted to $2,000,000. The average collection period of the receivables in terms of days was A) 30 days. B) 365 days. C) 146 days. D) 73 days.
Weegy: B) 365 days. User: If a check correctly written and paid by the bank for $428 is incorrectly recorded on the company's books for $482, the appropriate treatment on the bank reconciliation would be to add $54 to the book's balance. add $54 to the bank's balance. deduct $54 from the bank's balance. deduct $428 from the book's balance. Weegy: If a check correctly written and paid by the bank for $428 is incorrectly ... (More)
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Asked 9/10/2012 2:11:34 PM
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Accounts Receivable and Accounts Payable are examples of nominal accounts. subsidiary ledger accounts. controlling accounts. both nominal accounts and controlling accounts
Weegy: Accounts Receivable and Accounts Payable are examples of both nominal accounts and controlling accounts. (More)
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Expert Answered
Asked 9/10/2012 2:34:13 PM
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