Exercise 3 9 A Recording receivables and identifying their

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 Exercise 3-9A Recording receivables and identifying their effect on financial statements
  • Exercise 3-9A Recording receivables and identifying their effect on financial statements

  • Exam (elaborations) • 6 pages • 2019
  • Exercise 3-9A Recording receivables and identifying their effect on financial statements Davos Company performed services on account for $160,000 in 2016. Davos collected $120,000 cash from accounts receivable during 2016, and the remaining $40,000 was collected in cash during 2017. Required a. Record the 2016 transactions in T-accounts. b. Record the 2016 transactions in a horizontal statements model like the following one: Assets 5 Liab. 1 Equity Rev. 2 Exp. 5 Net Inc. Cash Flow Cash 1 ...
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