At December 31, Folgeys Coffee Company reports the following
results for its calendar year.
Cash sales | $ | 919,000 |
Credit sales | 319,000 | |
Its year-end unadjusted trial balance includes the following
items.
Accounts receivable | $ | 144,000 | debit |
Allowance for doubtful accounts | 6,900 | debit | |
Prepare the adjusting entry to record bad debts expense assuming
uncollectibles are estimated to be (1) 6% of credit sales, (2) 4%
of total sales and (3) 9% of year-end accounts
receivable.
1 | Bad debts expense | 19140 | |
Allowance for Doubtful Accounts | 19140 | ||
(319,000*6%) | |||
2 | Bad debts expense | 49520 | |
Allowance for Doubtful Accounts | 49520 | ||
(919,000+319,000)*4% | |||
3 | Bad debts expense | 19860 | |
Allowance for Doubtful Accounts | 19860 | ||
(144,000*9%) + 6900 |
At December 31, Folgeys Coffee Company reports the following results for its calendar year. Cash sales $ 919,000...
At December 31, Folgeys Coffee Company reports the following results for its calendar year. Cash sales Credit sales 900,000 зее, оее Its year-end unadjusted trial balance includes the following items. Accounts receivable Allowance for doubtful accounts $125,000 debit 5,000 debit Prepare the adjusting entry to record bad debts expense assuming uncollectibles are estimates total sales and (c) 6% of year-end accounts receivable. View transaction list Journal entry worksheet < 1 2 Record Bad Debts Expense assuming uncollectibles are estimated to...
At December 31, Folgeys Coffee Company reports the following results for its calendar year. Cash sales Credit sales $ 917,000 317,000 Its year-end unadjusted trial balance includes the following items. Accounts receivable Allowance for doubtful accounts $142,080 debit 6,780 debit Prepare the adjusting entry to record bad debts expense assuming uncollectibles are estimated to be (1) 4% of credit sales. (2) 2% of total sales and (3) 7% of year-end accounts receivable View transaction list Journal entry worksheet A B...
At December 31, Folgeys Coffee Company reports the following results for its calendar year. Cash sales Credit sales $ 911,000 311,000 Its year-end unadjusted trial balance includes the following items. Accounts receivable Allowance for doubtful accounts $136,000 debit 6, 100 debit Prepare the adjusting entry to record bad debts expense assuming uncollectibles are estimated to be (1) 6% of credit sales, (2) 4% of total sales and (3) 9% of year end accounts receivable. View transaction list Journal entry worksheet...
At December 31, Folgeys Coffee Company reports the following results for its calendar year. Cash sales Credit sales $913,000 313,000 Its year-end unadjusted trial balance includes the following items. Accounts receivable Allowance for doubtful accounts $138,eee debit 6,300 debit Prepare the adjusting entry to record bad debts expense assuming uncollectibles are estimated to be (a) 4% of credit sales, (b) 2% of total sales and (c) 7% of year-end accounts receivable View transaction list Journal entry worksheet 1 2 3
At December 31, Folgeys Coffee Company reports the following results for its calendar year. Cash sales Credit sales $ 912,000 312,000 Its year-end unadjusted trial balance includes the following items. Accounts receivable Allowance for doubtful accounts $137,000 debit 6,200 debit Prepare the adjusting entry to record bad debts expense assuming uncollectibles are estimated to be (1) 3% of credit sales, (2) 1% of total sales and (3) 6% of year-end accounts receivable. View transaction list Journal entry worksheet < ABC...
At December 31, Folgeys Coffee Company reports the following results for its calendar year. Cash sales $909,000 Credit sales 309,000 Its year-end unadjusted trial balance includes the following items. $134,000 debit 5,900 debit Accounts receivable Allowance for doubtful accounts Prepare the adjusting entry to record bad debts expense assuming uncollectibles are estimated to be (1) 4% of credit sales, (2) 2% of total sales and (3) 7% of year-end accounts receivable. View transaction list Journal entry worksheet A B C...
Help At December 31, Folgeys Coffee Company reports the following results for its calendar year. Cash sales Credit sales $ 914,000 314,000 Its year-end unadjusted trial balance includes the following items. Accounts receivable Allowance for doubtful accounts $139,000 debit 6,400 debit Prepare the adjusting entry to record bad debts expense assuming uncollectibles are estimated to be (1) 5% of credit sales. (2) 3% of total sales and (3) 8% of year-end accounts receivable. View transaction list Journal entry worksheet Record...
At December 31, Folgeys Coffee Company reports the following results for its calendar year. Exercise 9-11 Estimating bad debts P3 Cash sales.......................... $900,000 Credit sales ......................... $300,000 We were unable to transcribe this imageWe were unable to transcribe this image350 Chapter 9 Accounting for Receivables Its year-end unadjusted trial balance includes the following items. Allowance for doubtful accounts ..... $5,000 debt $125,000 debit Accounts receivable........... Check Dr Bad Debts Expense: (1) $9.000 1. Prepare the adjusting entry to record bad...
Quiz 9-4 At December 31, Folgeys Coffee Company reports the following results for its calendar year. Cash sales 904,ee8 304,eee Credit sales Its year-end unadjusted trlal balance Includes the following Items. Accounts receivable $129.000 debit Allowance for doubtful accounts 5,408 debit Prepare the adjusting entry to record bad debts expense assuming uncallectibles are estimated to be (a) 3% of credit sales, (b) 1% of total sales and (C) 6% of year-end accounts recelvable. View transaction list Journal entry worksheet 1...
Exercise 9-11 Estimating bad debts LO P3 At December 31, Folgeys Coffee Company reports the following results for its calendar year. Cash sales Credit sales $ 903,000 303,000 Its year-end unadjusted trial balance includes the following items. Accounts receivable Allowance for doubtful accounts $128.000 debit 5,300 debit Prepare the adjusting entry to record bad debts expense assuming uncollectibles are estimated to be (1) 6% of credit sales. (2) 4% of total sales and (3) 9% of year-end accounts receivable. View...