In June 2012, after trying to collect a $1,200 receivable from Ed Bundy, the Grinch Company wrote off the amount as uncollectible. Two months later, Bundy sent a check for $600. Collection of the remaining $400 is doubtful. Assuming the Grinch Company uses the allowance method, which of the following entries should it make upon receipt of the $600 check?

A. Accounts Receivable 600 Allowance for Uncollectible Accounts 600 Cash 600 Accounts Receivable 600
B. Cash 600 Accounts Receivable 600
C. Accounts Receivable 1,200 Allowance for Uncollectible Accounts 1,200
D. Cash 1,200 Accounts Receivable 1,200

Reynolds corp. factors $400,000 of accounts receivable with mateer finance corporation on a without recourse basis on july 1, 2015. the receivables records are transferred to mateer finance, which will receive the collections. mateer finance assesses a finance charge of 1 ½ percent of the amount of accounts receivable and retains an amount equal to 4% of accounts receivable to cover sales discounts, returns, and allowances. the transaction is to be recorded as a sale. required: a. prepare the journal entry on july 1, 2015, for reynolds corp. to record the sale of receivables without recourse. b. prepare the journal entry on july 1, 2015, for mateer finance corporation to record the purchase of receivables without recourse— think through this. c. explain the difference between sale of receivables with recourse as oppose to without recourse.

Afirm plans to begin production of a new small appliance. the manager must decide whether to purchase the motors for the appliance from a vendor at $10 each or to produce them in-house. either of two processes could be used for in-house production; process a would have an annual fixed cost of $200,000 and a variable cost of $7 per unit, and process b would have an annual fixed cost of $175,000 and a variable cost of $8 per unit. determine the range of annual volume for which each of the alternatives would be best. (round your first answer to the nearest whole number. include the indifference value itself in this answer.)

Gideon company uses the allowance method of accounting for uncollectible accounts. on may 3, the gideon company wrote off the $2,000 uncollectible account of its customer, a. hopkins. on july 10, gideon received a check for the full amount of $2,000 from hopkins. on july 10, the entry or entries gideon makes to record the recovery of the bad debt is