PLEASE HELP. The system says both are wrong.
1.
Don't know why this answer is wrong.
2. Same issue with this question.
Answers
Accounts receivables |
% uncollectible |
Estimated Uncollectible |
[A] |
[B] |
[C = A x B] |
$ 285,000.00 |
3% |
$ 8,550.00 |
$ 51,000.00 |
11% |
$ 5,610.00 |
$ 29,000.00 |
31% |
$ 8,990.00 |
$ 365,000.00 |
$ 23,150.00 |
--Correct Requirement 2
Pasrtial Balance Sheet |
||
As of Dec 31 |
||
Accounts receivables |
$ 365,000.00 |
|
Allowance for Doubtful Accounts |
$ (23,150.00) |
|
$ 341,850.00 |
Pasrtial Balance Sheet |
||
As of Dec 31 |
||
Current Assets: |
||
Accounts receivables |
$ 56,573.00 |
|
Allowance for Doubtful Accounts |
$ (6,155.00) |
|
$ 50,418.00 |
PLEASE HELP. The system says both are wrong. 1. Don't know why this answer is wrong....
At the end of the prior year, Durney's Outdoor Outfitters reported the following information. Accounts Receivable, Dec. 31, prior year Accounts Receivable (Gross) (A) $ 48,127 Allowance for Doubtful Accounts (XA) 8,409 Accounts Receivable (Net) (A) $ 39,718 During the current year, sales on account were $305,048, collections on account were $290,100, write-offs of bad debts were $6,994, and the bad debt expense adjustment was $4,710. Required: 1-a. Complete the Accounts Receivable and Allowance for Doubtful Accounts T-accounts to determine...
At the end of the prior year, Durney's Outdoor Outfitters reported the following information. During the current year, sales on account were $305,923, collections on account were $290,450, write-offs of bad debts were $7,029, and the bad debt expense adjustment was $4,745. Required: 1-a. Complete the Accounts Receivable and Allowance for Doubtful Accounts T-accounts to determine the balance sheet values. Disregard income tax considerations. 1-b. Complete the amounts related to Accounts Receivable and Bad Debt Expense that would be reported...
Help Save & Exit Submit Check my work E6-8 (Algo) Reporting Bad Debt Expense and Accounts Receivable LO6-2 At the end of the prior year, Durney's Outdoor Outfitters reported the following information. 0:40 Accounts Receivable, Dec. 31, prior year Accounts Receivable (Gross) (A) $ Allowance for Doubtful Accounts (XA) Accounts Receivable (Net) (A) $ 48,211 39,767 During the current year, sales on account were $305,923, collections on account were $290,450, write-offs of bad debts were $7,029, and the bad debt...
Check my At the end of the prior year, Durney's Outdoor Outfitters reported the following information. Accounts Receivable, Dec. 31, prior year Accounts Receivable (Gross) (A) Allowance for Doubtful Accounts (XA) Accounts Receivable (Net) (A) During the current year, sales on account were $305,298, collections on account were $290,200, write-offs of bad debts were $7.004. and the bad debt expense adjustment was $4,720. Required: 1-a. Complete the Accounts Receivable and Allowance for Doubtful Accounts T-accounts to determine the balance sheet...
At the end of the prior year, Durney's Outdoor Outfitters reported the following information. Accounts Receivable, Dec. 31, prior year Accounts Receivable (Gross) (A) $ 48,127 Allowance for Doubtful Accounts (XA) 8, 409 Accounts Receivable (Net) (A) $ 39,718 During the current year, sales on account were $305,048, collections on account were $290,100, write-offs of bad debts were $6,994, and the bad debt expense adjustment was $4,710. Required: 1-a. Complete the Accounts Receivable and Allowance for Doubtful Accounts T-accounts to...
At the end of the prior year, Durney's Outdoor Outfitters reported the following information. $ Accounts Receivable, Dec. 31, prior year Accounts Receivable (Gross) (A) Allowance for Doubtful Accounts (XA) Accounts Receivable (Net) (A) 48, 151 8.419 $ 39,732 During the current year, sales on account were $305,298, collections on account were $290,200, write-offs of bad debts were $7,004, and the bad debt expense adjustment was $4,720. Required: 1-a. Complete the Accounts Receivable and Allowance for Doubtful Accounts T-accounts to...
E6-8 (Algo) Reporting Bad Debt Expense and Accounts Receivable LO6-2 At the end of the prior year, Durney's Outdoor Outfitters reported the following information Accounts Receivable, Dec. 31, prior year Accounts Receivable (Gross) (A) $ 48,103 Allowance for Doubtful Accounts (XA) 8.399 $ 39,704 Accounts Receivable (Net) (A) During the current year, sales on account were $304,798, collections on account were $290,000, write-offs of bad debts were $6,984. and the bad debt expense adjustment was $4,700. Required: 1-a. Complete the...
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Check At the end of the prior year, Durney's Outdoor Outfitters reported the following information Accounts Receivable, Dec. 31, prior year Accounts Receivable (rosa) (A) Allowance for Doubtful Recounts (A) Accounts Receivable (Not) (A) During the current year, sales on account were $305,173, collections on account were $290,150, write-offs of bad debts were $6,999, and the bad debt expense adjustment was $4,715 Required: 1-a. Complete the Accounts Receivable and Allowance for Doubtful Accounts T-accounts to determine the balance sheet values....
Could you please help me to figure out the answer for required 3? I don't know why it showed wrong. Thank you so much! Complete this question by entering your answers in the tabs below. Required 1 Required 2 Required 3 Prepare the year-end adjusting entry for bad debts. (If no entry is required for a transaction/event, select "No journal entry required" in the first account field.) No Transaction General Journal Debit Credit 53,700 Bad debt expense Allowance for uncollectible...