Accounting Case Essay Preview: Accounting Case Report this essay Chapter 5 Questions 1. When recording a credit sale, what account do we debit? Describe where this account is reported in the financial statements. Accounts Receivable. It is reported in the balance sheet under current assets. 2. What is the difference between a trade receivable and.
Essay Preview: Non Report this essay non yet, i have not written an essay for some time. i guess the only way i can make an account is by writing something here. and copy pasting it until i get 250 words. non yet, i have not written an essay for some time. i guess the.
Cresent Case Sol Balance sheet2004 2005 20062007 E(with tradediscount)2007 ECash45 53 2332 32Accounts Receivable187 231 264317.9304193 317.9304193Inventory243 278 379429.1193577 437.8768956Total Current Assets475 562 666 779.049777 787.8073149Property and Equipment187 202 252303.4790366 303.4790366Accumulated Depreciation-74 -99 -134-173.4522748-173.4522748Total PP&E113 103 118130.0267618 130.0267618Total Assets588 665 784909.0765388 917.8340767Accounts Payable36 42 12058.78347366 179.9494092Line of Credit Payable149 214 249395 310Accrued Expenses13 14 1414 14Long Term Debt, CurrentPosition24 24 2424 24Current Liabilities222.
