Answered Essay: State of California pays 100% of the claims submitted within six months from the ser

State of California pays 100% of the claims submitted within six months from the service date, 75% within nine months, 50% within a year, and pays 0% after one year. During the internal audit process, the following omitted items were found and the claims were submitted on March 31, 2013. How much should be recorded as accounts receivable on March 31, 2013?
Service Date Claim Amount Accounts Receivable
15-Feb-12 $150
31-may-12 $100
31-Aug-12 $200
18-Oct-12 $100
Jan 15, 2013 $200
Total $750

Expert Answer

 

Sr. No. Service Date Claims Submitted Date Time Expire Claim Amount Claim % Allowed Account Receivable Remarks
1 15th Feb 12 March 31, 2013 More then one year $                          150 0% $                                          – More then 12 moths so 0% Claim
2 31-may-12 March 31, 2013 10 Months $                          100 50% $                                         50 More then 9 month and less then 12 month so claim is 50%
3 31-Aug-12 March 31, 2013 7 moths $                          200 75% $                                       150 More then 6 month and less then 9 month so claim is 75%
4 18-Oct-12 March 31, 2013 5 months and 12 days $                          100 100% $                                       100 Less then 6 months so claim is 100%
5 Jan 15, 2013 March 31, 2013 2 months and 16 days $                          200 100% $                                       200 Less then 6 months so claim is 100%
TOTAL $                          750 $                                       500
So Amount should be recorded as Account recivable is $ 500 Only
Answer = $ 500
Buy Essay
Calculate your paper price
Pages (550 words)
Approximate price: -

Help Me Write My Essay - Reasons:

Best Online Essay Writing Service

We strive to give our customers the best online essay writing experience. We Make sure essays are submitted on time and all the instructions are followed.

Our Writers are Experienced and Professional

Our essay writing service is founded on professional writers who are on stand by to help you any time.

Free Revision Fo all Essays

Sometimes you may require our writers to add on a point to make your essay as customised as possible, we will give you unlimited times to do this. And we will do it for free.

Timely Essay(s)

We understand the frustrations that comes with late essays and our writers are extra careful to not violate this term. Our support team is always engauging our writers to help you have your essay ahead of time.

Customised Essays &100% Confidential

Our Online writing Service has zero torelance for plagiarised papers. We have plagiarism checking tool that generate plagiarism reports just to make sure you are satisfied.

24/7 Customer Support

Our agents are ready to help you around the clock. Please feel free to reach out and enquire about anything.

Try it now!

Calculate the price of your order

Total price:
$0.00

How it works?

Follow these simple steps to get your paper done

Place your order

Fill in the order form and provide all details of your assignment.

Proceed with the payment

Choose the payment system that suits you most.

Receive the final file

Once your paper is ready, we will email it to you.

HOW OUR ONLINE ESSAY WRITING SERVICE WORKS

Let us write that nagging essay.

STEP 1

Submit Your Essay/Homework Instructions

By clicking on the "PLACE ORDER" button, tell us your requires. Be precise for an accurate customised essay. You may also upload any reading materials where applicable.

STEP 2

Pick A & Writer

Our ordering form will provide you with a list of writers and their feedbacks. At step 2, its time select a writer. Our online agents are on stand by to help you just in case.

STEP 3

Editing (OUR PART)

At this stage, our editor will go through your essay and make sure your writer did meet all the instructions.

STEP 4

Receive your Paper

After Editing, your paper will be sent to you via email.

× How can I help you?