Which of the following is not one of the five classes of transactions included in the sales and collection cycle? （ ）
A: Interest Income
B: Sales returns and allowances
C: Bad debt expense
D: Write-off of uncollectible accounts
A: Interest Income
B: Sales returns and allowances
C: Bad debt expense
D: Write-off of uncollectible accounts
举一反三
- A company has sales of $350,000, and estimates that 0.7% of its sales are uncollectible. The estimated amount of bad debt expense is $2,450. ( )
- If the net sales of a company is $2000, sales returns and allowances is $500 and sales discount is $250, the amount of net sales is : A: $1000 B: $1250 C: $1500 D: $1750
- If the revenue from sales of a company is $2000,sales returns and allowances is $500 and sales discount is $250,the amount of net sales is: A: $1,000 B: $1,250 C: $1,500 D: $1,750
- In the direct write-off method. TechCom determines on January 23 that it cannot collect $5000 owed to it by its customer J. Kent. So it should make the following entry:Bad Debt Expense 5000 Accounts Receivable 5000
- If a firm had sales of 60,000 during a period and sales returns and allowances of 3,000, its net sales were: A: 63,000 B: 60,000 C: 57,000 D: 3,000